Geode Capital Management LLC Buys 92,469 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Geode Capital Management LLC raised its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,124,445 shares of the company’s stock after buying an additional 92,469 shares during the quarter. Geode Capital Management LLC owned 1.89% of PureCycle Technologies worth $29,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCT. FMR LLC increased its stake in shares of PureCycle Technologies by 0.5% in the 3rd quarter. FMR LLC now owns 230,755 shares of the company’s stock valued at $2,192,000 after acquiring an additional 1,083 shares during the last quarter. Fortis Group Advisors LLC grew its holdings in PureCycle Technologies by 12.5% during the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock valued at $117,000 after purchasing an additional 1,376 shares during the period. Hsbc Holdings PLC increased its stake in PureCycle Technologies by 11.4% in the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after purchasing an additional 1,910 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in PureCycle Technologies by 6.3% in the third quarter. Foster Victor Wealth Advisors LLC now owns 33,951 shares of the company’s stock worth $310,000 after purchasing an additional 2,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of PureCycle Technologies by 1.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company’s stock worth $1,087,000 after purchasing an additional 2,083 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

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

PureCycle Technologies Stock Up 2.3 %

Shares of PCT stock opened at $10.95 on Friday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -7.30 and a beta of 1.53. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $15.58. The firm has a fifty day moving average of $12.27 and a 200-day moving average of $8.78. 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 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.