Maridea Wealth Management LLC Takes $1.08 Million Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Maridea Wealth Management LLC bought 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 bought 105,352 shares of the company's stock, valued at approximately $1,080,000. Maridea Wealth Management LLC owned 0.06% of PureCycle Technologies at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sylebra Capital LLC lifted its position 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 valued at $317,848,000 after buying an additional 4,264,393 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PureCycle Technologies by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock valued at $144,530,000 after purchasing an additional 758,382 shares in the last quarter. Appian Way Asset Management LP lifted its holdings in PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company's stock valued at $53,905,000 after purchasing an additional 650,426 shares in the last quarter. Gladstone Institutional Advisory LLC grew its position in shares of PureCycle Technologies by 3.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock valued at $35,492,000 after purchasing an additional 122,700 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of PureCycle Technologies by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company's stock worth $29,688,000 after purchasing an additional 92,469 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The stock was acquired at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares of the company's stock, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.44% of the stock is owned by corporate insiders.

PureCycle Technologies Price Performance

Shares of PCT traded up $0.42 during mid-day trading on Wednesday, hitting $7.25. 1,258,507 shares of the company were exchanged, compared to its average volume of 2,219,395. 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, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -4.83 and a beta of 1.55. The company has a 50 day moving average of $8.73 and a 200-day moving average of $10.24.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released 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). Analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

About PureCycle Technologies

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.