105,352 Shares in PureCycle Technologies, Inc. (NASDAQ:PCT) Bought by Maridea Wealth Management LLC

Maridea Wealth Management LLC purchased a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 105,352 shares of the company’s stock, valued at approximately $1,080,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in PureCycle Technologies during the 3rd quarter worth approximately $310,000. Charles Schwab Investment Management Inc. increased its holdings in shares of PureCycle Technologies by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,100,281 shares of the company’s stock valued at $10,453,000 after purchasing an additional 19,989 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of PureCycle Technologies by 32.7% during the third quarter. The Manufacturers Life Insurance Company now owns 64,196 shares of the company’s stock worth $610,000 after purchasing an additional 15,837 shares during the last quarter. FMR LLC lifted its holdings in shares of PureCycle Technologies by 0.5% during the third quarter. FMR LLC now owns 230,755 shares of the company’s stock worth $2,192,000 after purchasing an additional 1,083 shares during the period. Finally, Appian Way Asset Management LP grew its position in PureCycle Technologies by 12.9% in the 3rd quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after buying an additional 650,426 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 4.9 %

PCT stock opened at $7.02 on Friday. The stock has a market capitalization of $1.26 billion, a PE ratio of -4.68 and a beta of 1.55. The company has a fifty day moving average of $8.84 and a 200-day moving average of $10.20. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). As a group, analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.09% of the company’s stock.

PureCycle Technologies Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.