Fmr LLC Purchases 1,083 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Fmr LLC grew its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,755 shares of the company’s stock after buying an additional 1,083 shares during the quarter. Fmr LLC owned approximately 0.14% of PureCycle Technologies worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Longview Asset Management LLC bought a new stake in PureCycle Technologies during the second quarter worth about $57,521,000. Gladstone Institutional Advisory LLC grew its stake in PureCycle Technologies by 1.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 3,339,952 shares of the company’s stock worth $31,730,000 after buying an additional 44,571 shares during the last quarter. Long Focus Capital Management LLC grew its stake in PureCycle Technologies by 3.2% during the second quarter. Long Focus Capital Management LLC now owns 2,403,781 shares of the company’s stock worth $14,230,000 after buying an additional 75,000 shares during the last quarter. Simplify Asset Management Inc. grew its stake in PureCycle Technologies by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after buying an additional 713,664 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in PureCycle Technologies by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,100,281 shares of the company’s stock worth $10,453,000 after buying an additional 19,989 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PCT has been the topic of a number of research reports. TD Cowen upped their target price on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.60.

PureCycle Technologies Stock Down 2.5 %

PureCycle Technologies stock opened at $11.75 on Friday. The company has a market cap of $2.04 billion, a P/E ratio of -7.83 and a beta of 1.53. PureCycle Technologies, Inc. has a 1-year low of $2.38 and a 1-year high of $15.58. The company has a fifty day simple moving average of $12.01 and a 200 day simple moving average of $8.45. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.

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.