PureCycle Technologies, Inc. (NYSE:PCT) Major Shareholder Sylebra Capital Llc Buys 4,264,393 Shares of Stock

PureCycle Technologies, Inc. (NYSE:PCT) major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

PureCycle Technologies Stock Performance

NYSE:PCT opened at $8.90 on Tuesday. The stock has a 50-day moving average price of $6.27 and a 200 day moving average price of $5.77. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $9.55. The stock has a market capitalization of $1.47 billion, a P/E ratio of -8.73 and a beta of 1.60.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Equities research analysts forecast that PureCycle Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On PureCycle Technologies

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of PureCycle Technologies by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock valued at $69,000 after purchasing an additional 3,128 shares in the last quarter. Swiss National Bank raised its position in shares of PureCycle Technologies by 6.2% during the 4th quarter. Swiss National Bank now owns 210,100 shares of the company’s stock valued at $851,000 after buying an additional 12,200 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of PureCycle Technologies by 45.8% in the 4th quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock valued at $52,000 after acquiring an additional 4,388 shares during the last quarter. Jump Financial LLC purchased a new position in PureCycle Technologies in the fourth quarter worth about $79,000. Finally, Gladstone Institutional Advisory LLC increased its stake in PureCycle Technologies by 17.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,117,948 shares of the company’s stock worth $8,578,000 after acquiring an additional 313,928 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Craig Hallum increased their target price on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. TD Cowen increased their price objective on shares of PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus raised their price objective on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, PureCycle Technologies has an average rating of “Hold” and a consensus price target of $6.75.

About PureCycle Technologies

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.