Deane Retirement Strategies Inc. purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,794 shares of the company's stock, valued at approximately $695,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Edge Advisors LLC bought a new stake in PureCycle Technologies during the 3rd quarter valued at approximately $100,000. Algert Global LLC acquired a new stake in shares of PureCycle Technologies in the second quarter worth $69,000. Fortis Group Advisors LLC increased its position in PureCycle Technologies by 12.5% during the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company's stock worth $117,000 after acquiring an additional 1,376 shares during the period. Bar Harbor Wealth Management acquired a new position in PureCycle Technologies during the 4th quarter valued at $154,000. Finally, Prospera Private Wealth LLC raised its stake in PureCycle Technologies by 35.9% during the 3rd quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company's stock valued at $147,000 after purchasing an additional 4,080 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.
PureCycle Technologies Price Performance
NASDAQ PCT traded down $0.15 on Friday, reaching $9.31. The company's stock had a trading volume of 1,456,199 shares, compared to its average volume of 1,668,715. The firm has a market cap of $1.62 billion, a PE ratio of -6.21 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a 52 week low of $3.75 and a 52 week high of $15.58. The business has a 50-day moving average price of $10.98 and a 200 day moving average price of $9.54.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on PCT. 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. TD Cowen boosted their price target on PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th.
Read Our Latest Report on PureCycle Technologies
About PureCycle Technologies
(
Free Report)
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.
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