Bank of Montreal Can Buys 43,496 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Bank of Montreal Can lifted its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 419,018 shares of the company's stock after buying an additional 43,496 shares during the quarter. Bank of Montreal Can owned about 0.24% of PureCycle Technologies worth $4,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of PureCycle Technologies by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock worth $144,530,000 after acquiring an additional 758,382 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of PureCycle Technologies during the fourth quarter worth $2,941,000. Drive Wealth Management LLC raised its holdings in shares of PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after acquiring an additional 272,527 shares during the period. Raymond James Financial Inc. acquired a new position in PureCycle Technologies in the 4th quarter worth $1,415,000. Finally, Gladstone Institutional Advisory LLC raised its stake in shares of PureCycle Technologies by 3.7% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock valued at $35,492,000 after purchasing an additional 122,700 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Stock Down 2.0 %

NASDAQ PCT traded down $0.12 during trading on Friday, hitting $5.99. The stock had a trading volume of 1,875,108 shares, compared to its average volume of 2,299,512. The company has a market capitalization of $1.07 billion, a PE ratio of -3.99 and a beta of 1.68. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $15.58. The company's 50-day moving average price is $7.87 and its two-hundred day moving average price is $9.91. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.32). As a group, sell-side analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Insider Activity

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the stock in a transaction dated Thursday, February 6th. The shares were bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares of the company's stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % 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 owned by corporate insiders.

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.