Federated Hermes Inc. Makes New Investment in PureCycle Technologies, Inc. (NASDAQ:PCT)

Federated Hermes Inc. purchased a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 65,861 shares of the company's stock, valued at approximately $675,000.

A number of other large investors also recently made changes to their positions in the business. US Bancorp DE grew its holdings in PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after purchasing an additional 2,019 shares during the period. Arizona State Retirement System boosted its holdings in shares of PureCycle Technologies by 6.1% in the 4th quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after purchasing an additional 2,033 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of PureCycle Technologies by 13.8% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock valued at $188,000 after purchasing an additional 2,230 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after buying an additional 2,291 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of PureCycle Technologies by 8.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 31,085 shares of the company's stock worth $319,000 after buying an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Activity at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the acquisition, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.67% of the stock is currently owned by insiders.

PureCycle Technologies Trading Up 14.7 %

Shares of PCT traded up $0.82 during trading hours on Tuesday, hitting $6.39. The stock had a trading volume of 5,057,412 shares, compared to its average volume of 2,321,638. The company's fifty day simple moving average is $7.75 and its 200 day simple moving average is $9.87. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The firm has a market cap of $1.15 billion, a P/E ratio of -4.26 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). Equities research analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.