Abundance Wealth Counselors Has $27.67 Million Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Abundance Wealth Counselors reduced its position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 49.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,699,687 shares of the company's stock after selling 2,672,142 shares during the period. PureCycle Technologies comprises 6.0% of Abundance Wealth Counselors' investment portfolio, making the stock its 3rd biggest position. Abundance Wealth Counselors owned approximately 1.56% of PureCycle Technologies worth $27,672,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in shares of 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 during the period. ProShare Advisors LLC grew its position in shares of PureCycle Technologies by 49.1% in the second quarter. ProShare Advisors LLC now owns 31,128 shares of the company's stock valued at $184,000 after purchasing an additional 10,251 shares during the period. Marshall Wace LLP purchased a new stake in shares of PureCycle Technologies in the second quarter valued at $322,000. The Manufacturers Life Insurance Company grew its position in shares of PureCycle Technologies by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 48,359 shares of the company's stock valued at $286,000 after purchasing an additional 3,405 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of PureCycle Technologies in the second quarter valued at $69,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Up 2.1 %

PureCycle Technologies stock traded up $0.18 during midday trading on Wednesday, hitting $8.67. The stock had a trading volume of 2,437,863 shares, compared to its average volume of 1,968,575. 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 stock has a market cap of $1.50 billion, a P/E ratio of -5.77 and a beta of 1.58. PureCycle Technologies, Inc. has a 12 month low of $4.25 and a 12 month high of $15.58. The business has a fifty day moving average price of $10.80 and a 200 day moving average price of $9.61.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stifel Nicolaus lifted their target price on PureCycle Technologies from $8.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. TD Cowen lifted their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th.

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.