Janney Montgomery Scott LLC Makes New $193,000 Investment in PureCycle Technologies, Inc. (NASDAQ:PCT)

Janney Montgomery Scott LLC acquired a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,843 shares of the company’s stock, valued at approximately $193,000.

A number of other institutional investors have also recently added to or reduced their stakes in PCT. Sylebra Capital LLC lifted its holdings in PureCycle Technologies by 14.6% in the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after buying an additional 4,264,393 shares in the last quarter. Harvard Management Co. Inc. raised its stake in shares of PureCycle Technologies by 249.7% in the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after purchasing an additional 1,783,885 shares in the last quarter. Simplify Asset Management Inc. raised its stake in shares of PureCycle Technologies by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after purchasing an additional 713,664 shares in the last quarter. Appian Way Asset Management LP raised its stake in shares of 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 purchasing an additional 650,426 shares in the last quarter. Finally, Verus Capital Partners LLC raised its stake in shares of PureCycle Technologies by 465.8% in the 3rd quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after purchasing an additional 105,000 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Activity at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 619,925 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was purchased at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the transaction, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.44% of the company’s stock.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $8.95 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The firm has a 50-day simple moving average of $10.16 and a 200 day simple moving average of $9.65. The company has a market cap of $1.55 billion, a PE ratio of -5.97 and a beta of 1.58.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th.

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.