UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 27,248 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,912 shares of the company’s stock after selling 27,248 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.12% of PureCycle Technologies worth $1,947,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in PureCycle Technologies by 0.5% during the third quarter. FMR LLC now owns 230,755 shares of the company’s stock valued at $2,192,000 after purchasing an additional 1,083 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of PureCycle Technologies by 32.7% in the third quarter. The Manufacturers Life Insurance Company now owns 64,196 shares of the company’s stock worth $610,000 after acquiring an additional 15,837 shares during the period. DRW Securities LLC boosted its holdings in shares of PureCycle Technologies by 100.0% in the third quarter. DRW Securities LLC now owns 52,000 shares of the company’s stock worth $494,000 after acquiring an additional 26,000 shares during the period. Nwam LLC bought a new position in shares of PureCycle Technologies in the third quarter worth $179,000. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $10,453,000 after acquiring an additional 19,989 shares during the period. 63.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PCT shares. TD Cowen raised their price target on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus increased their price objective on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.60.

PureCycle Technologies Trading Down 2.5 %

NASDAQ PCT opened at $11.75 on Monday. PureCycle Technologies, Inc. has a 1-year low of $2.38 and a 1-year high of $15.58. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average of $12.01 and a 200-day moving average of $8.47. The firm has a market cap of $2.04 billion, a PE ratio of -7.83 and a beta of 1.53.

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.