Ethos Financial Group LLC Acquires Shares of 286,972 PureCycle Technologies, Inc. (NASDAQ:PCT)

Ethos Financial Group LLC bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 286,972 shares of the company's stock, valued at approximately $2,941,000. Ethos Financial Group LLC owned 0.17% of PureCycle Technologies at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of PureCycle Technologies by 0.5% during the 3rd quarter. FMR LLC now owns 230,755 shares of the company's stock valued at $2,192,000 after purchasing an additional 1,083 shares during the last quarter. US Bancorp DE lifted its position in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after buying an additional 2,019 shares in the last quarter. Arizona State Retirement System boosted its stake in PureCycle Technologies by 6.1% during the fourth quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after buying an additional 2,033 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in PureCycle Technologies by 13.8% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock valued at $188,000 after buying an additional 2,230 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in PureCycle Technologies by 286.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after acquiring an additional 2,291 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the business's stock in a transaction on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the transaction, the insider now directly owns 34,077,574 shares of the company's stock, valued at $274,665,246.44. The trade was a 1.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 11.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PCT has been the subject of a number of research reports. TD Cowen increased their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Stifel Nicolaus increased 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. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th.

PureCycle Technologies Trading Down 16.1 %

NASDAQ:PCT traded down $1.39 during midday trading on Monday, hitting $7.26. 5,753,170 shares of the company traded hands, compared to its average volume of 2,200,619. The firm has a market capitalization of $1.30 billion, a P/E ratio of -4.84 and a beta of 1.55. The firm's fifty day moving average is $9.57 and its 200-day moving average is $10.06. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. 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 (NASDAQ:PCT - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

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.