Marshall Wace LLP Buys Shares of 54,398 PureCycle Technologies, Inc. (NYSE:PCT)

Marshall Wace LLP purchased a new stake in PureCycle Technologies, Inc. (NYSE:PCT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 54,398 shares of the company’s stock, valued at approximately $322,000.

Other large investors have also made changes to their positions in the company. Sierra Summit Advisors LLC acquired a new position in shares of PureCycle Technologies during the fourth quarter worth approximately $964,000. Ensign Peak Advisors Inc bought a new stake in shares of PureCycle Technologies during the second quarter worth $311,000. Abundance Wealth Counselors grew its holdings in shares of PureCycle Technologies by 6.0% during the second quarter. Abundance Wealth Counselors now owns 7,189,490 shares of the company’s stock worth $42,562,000 after purchasing an additional 407,353 shares during the last quarter. Longview Asset Management LLC acquired a new position in PureCycle Technologies during the 2nd quarter valued at about $57,521,000. Finally, American Century Companies Inc. grew its holdings in PureCycle Technologies by 37.4% during the 2nd quarter. American Century Companies Inc. now owns 198,218 shares of the company’s stock worth $1,173,000 after acquiring an additional 53,964 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Activity at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Craig Hallum lifted their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Stifel Nicolaus boosted their price target on PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, TD Cowen boosted 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.75.

PureCycle Technologies Price Performance

PureCycle Technologies stock opened at $9.40 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -9.22 and a beta of 1.63. The stock’s 50 day moving average is $7.29 and its 200-day moving average is $6.25. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $10.68.

PureCycle Technologies (NYSE:PCT) last released its earnings results 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). Equities research analysts expect that PureCycle Technologies, Inc. will post -0.85 EPS for the current year.

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.