Centaurus Financial Inc. Boosts Stock Holdings in PureCycle Technologies, Inc. (NYSE:PCT)

Centaurus Financial Inc. raised its holdings in PureCycle Technologies, Inc. (NYSE:PCT) by 49.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,830 shares of the company’s stock after purchasing an additional 17,078 shares during the quarter. Centaurus Financial Inc.’s holdings in PureCycle Technologies were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in shares of PureCycle Technologies in the 2nd quarter valued at about $689,000. Algert Global LLC purchased a new position in PureCycle Technologies in the second quarter valued at about $69,000. Long Focus Capital Management LLC lifted its position in shares of PureCycle Technologies by 3.2% during the 2nd quarter. Long Focus Capital Management LLC now owns 2,403,781 shares of the company’s stock valued at $14,230,000 after acquiring an additional 75,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of PureCycle Technologies by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,359 shares of the company’s stock valued at $286,000 after acquiring an additional 3,405 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of PureCycle Technologies during the 2nd quarter worth approximately $224,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Craig Hallum upped their price target on shares of PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, TD Cowen increased their price target on shares of PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.75.

PureCycle Technologies Trading Up 2.8 %

NYSE PCT opened at $9.26 on Friday. The stock has a market cap of $1.53 billion, a P/E ratio of -9.08 and a beta of 1.63. The company’s fifty day simple moving average is $7.11 and its 200-day simple moving average is $6.14. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $10.68.

PureCycle Technologies (NYSE:PCT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). Equities research analysts predict that PureCycle Technologies, Inc. will post -0.85 EPS for the current fiscal year.

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.