US Bancorp DE Grows Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

US Bancorp DE lifted its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 141.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,446 shares of the company’s stock after purchasing an additional 2,019 shares during the period. US Bancorp DE’s holdings in PureCycle Technologies were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sylebra Capital LLC boosted 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 valued at $317,848,000 after purchasing an additional 4,264,393 shares during the last quarter. Appian Way Asset Management LP lifted its holdings 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 worth $53,905,000 after acquiring an additional 650,426 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of PureCycle Technologies by 3.7% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company’s stock worth $35,492,000 after acquiring an additional 122,700 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PureCycle Technologies by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company’s stock worth $29,688,000 after acquiring an additional 92,469 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of PureCycle Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 2,809,178 shares of the company’s stock worth $26,687,000 after acquiring an additional 21,706 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 equities research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. 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 report on Wednesday, November 20th.

Insider Buying and Selling

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of PureCycle Technologies stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.44% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $7.70 on Wednesday. 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 firm has a 50-day moving average price of $9.15 and a two-hundred day moving average price of $10.14. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $15.58. The company has a market capitalization of $1.38 billion, a P/E ratio of -5.13 and a beta of 1.55.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). As a group, research analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

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.