11,604 Shares in PureCycle Technologies, Inc. (NYSE:PCT) Bought by Algert Global LLC

Algert Global LLC purchased a new stake in shares of PureCycle Technologies, Inc. (NYSE:PCT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,604 shares of the company’s stock, valued at approximately $69,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortis Group Advisors LLC bought a new stake in PureCycle Technologies during the 1st quarter valued at approximately $67,000. Tidal Investments LLC bought a new stake in shares of PureCycle Technologies in the first quarter valued at approximately $70,000. Bayesian Capital Management LP acquired a new stake in shares of PureCycle Technologies in the first quarter worth $98,000. Prospera Private Wealth LLC bought a new position in PureCycle Technologies during the first quarter worth $104,000. Finally, Custos Family Office LLC acquired a new position in PureCycle Technologies during the 1st quarter valued at $109,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.44% of the company’s stock.

PureCycle Technologies Stock Performance

NYSE PCT opened at $9.40 on Friday. PureCycle Technologies, Inc. has a twelve month low of $2.38 and a twelve month high of $10.68. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06. The stock has a market cap of $1.55 billion, a P/E ratio of -9.22 and a beta of 1.63. The company’s 50-day simple moving average is $7.29 and its 200 day simple moving average is $6.25.

PureCycle Technologies (NYSE:PCT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.13). As a group, research analysts forecast that PureCycle Technologies, Inc. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCT has been the topic of several research reports. Stifel Nicolaus boosted 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. TD Cowen upped their price target on PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Craig Hallum lifted their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.75.

PureCycle Technologies Company 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.