SG Americas Securities LLC Purchases 10,094 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

SG Americas Securities LLC boosted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 22.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,774 shares of the company’s stock after purchasing an additional 10,094 shares during the period. SG Americas Securities LLC’s holdings in PureCycle Technologies were worth $561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCT. Sylebra Capital LLC boosted its stake in shares of PureCycle Technologies by 14.6% during the third 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 period. Verus Capital Partners LLC lifted its holdings in PureCycle Technologies by 465.8% during the 3rd quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after buying an additional 105,000 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in PureCycle Technologies in the 3rd quarter valued at about $485,000. Simplify Asset Management Inc. grew its stake in PureCycle Technologies by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after acquiring an additional 713,664 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of PureCycle Technologies by 77.2% during the third quarter. Sanctuary Advisors LLC now owns 206,339 shares of the company’s stock worth $1,960,000 after acquiring an additional 89,875 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PCT. TD Cowen increased their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Stifel Nicolaus increased their price target on 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 restated an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a report on Tuesday, November 19th.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $9.31 on Friday. The firm has a 50 day moving average of $10.98 and a 200 day moving average of $9.52. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.21 and a beta of 1.59. PureCycle Technologies, Inc. has a 52 week low of $3.75 and a 52 week high of $15.58.

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.