Gladstone Institutional Advisory LLC grew its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,462,652 shares of the company's stock after purchasing an additional 122,700 shares during the quarter. PureCycle Technologies makes up 1.6% of Gladstone Institutional Advisory LLC's portfolio, making the stock its 11th biggest position. Gladstone Institutional Advisory LLC owned 1.99% of PureCycle Technologies worth $35,492,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Sylebra Capital LLC raised its stake in shares of PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company's stock worth $317,848,000 after acquiring an additional 4,264,393 shares in the last quarter. Appian Way Asset Management LP raised its stake in shares of PureCycle Technologies by 12.9% during the 3rd quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company's stock worth $53,905,000 after acquiring an additional 650,426 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PureCycle Technologies by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company's stock worth $29,688,000 after acquiring an additional 92,469 shares in the last quarter. State Street Corp increased its stake in PureCycle Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 2,809,178 shares of the company's stock valued at $26,687,000 after purchasing an additional 21,706 shares in the last quarter. Finally, Harvard Management Co. Inc. increased its stake in PureCycle Technologies by 249.7% during the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company's stock valued at $23,733,000 after purchasing an additional 1,783,885 shares in the last quarter. Institutional investors own 63.01% of the company's stock.
Analyst Ratings Changes
PCT has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Stifel Nicolaus upped their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $14.00 price target on shares of PureCycle Technologies in a research note on Tuesday, November 19th.
Read Our Latest Analysis on PCT
PureCycle Technologies Stock Performance
Shares of PCT stock traded up $0.36 during trading hours on Friday, hitting $9.31. The company's stock had a trading volume of 2,172,027 shares, compared to its average volume of 1,982,257. The company has a 50 day moving average of $10.08 and a 200 day moving average of $9.66. The stock has a market cap of $1.62 billion, a PE ratio of -6.21 and a beta of 1.58. 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, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58.
Insider Activity
In other news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 11.44% of the company's stock.
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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