IHT Wealth Management LLC Raises Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

IHT Wealth Management LLC boosted its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 86.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,968 shares of the company's stock after buying an additional 43,918 shares during the quarter. IHT Wealth Management LLC owned approximately 0.05% of PureCycle Technologies worth $973,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position 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 acquiring an additional 2,291 shares during the period. Sterling Capital Management LLC lifted its stake in PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after purchasing an additional 2,861 shares during the last quarter. US Bancorp DE grew its holdings in PureCycle Technologies by 141.5% during 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. Brown Brothers Harriman & Co. purchased a new stake in PureCycle Technologies in the fourth quarter worth $80,000. Finally, Keudell Morrison Wealth Management bought a new stake in shares of PureCycle Technologies in the fourth quarter valued at $117,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the acquisition, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 21.67% of the stock is owned by insiders.

PureCycle Technologies Stock Down 1.4 %

PCT stock opened at $6.30 on Thursday. The stock has a fifty day moving average of $7.69 and a 200-day moving average of $9.85. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.20 and a beta of 1.68. 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 issued its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). As a group, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share 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.

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