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

US Bancorp DE lifted its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCTFree Report) 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.

Check Out Our Latest Stock Analysis on PureCycle Technologies

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:PCTGet Free Report) 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

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PureCycle Technologies (NASDAQ:PCT)

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