Gladstone Institutional Advisory LLC grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,339,952 shares of the company's stock after purchasing an additional 44,571 shares during the period. PureCycle Technologies makes up approximately 1.5% of Gladstone Institutional Advisory LLC's investment portfolio, making the stock its 10th largest holding. Gladstone Institutional Advisory LLC owned 2.02% of PureCycle Technologies worth $31,730,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Algert Global LLC acquired a new stake in shares of PureCycle Technologies in the second quarter valued at about $69,000. Tidal Investments LLC acquired a new position in shares of PureCycle Technologies in the first quarter valued at approximately $70,000. Bayesian Capital Management LP acquired a new position in shares of PureCycle Technologies in the first quarter valued at approximately $98,000. Park Edge Advisors LLC bought a new stake in shares of PureCycle Technologies in the third quarter valued at approximately $100,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of PureCycle Technologies in the first quarter valued at approximately $104,000. 63.01% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.44% of the stock is owned by corporate insiders.
PureCycle Technologies Price Performance
NASDAQ PCT traded down $0.15 on Friday, hitting $12.87. 2,314,690 shares of the company's stock were exchanged, compared to its average volume of 2,350,781. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $15.58. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -13.99 and a beta of 1.63. The stock has a 50-day moving average of $8.94 and a 200-day moving average of $6.84.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Analysts expect that PureCycle Technologies, Inc. will post -0.98 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PCT. Stifel Nicolaus boosted their price target on PureCycle Technologies from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Craig Hallum boosted their price target on PureCycle Technologies from $4.00 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 9th. TD Cowen upped their target price on PureCycle Technologies from $7.50 to $10.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald began coverage on PureCycle Technologies in a research note on Friday, October 18th. They set an "overweight" rating and a $14.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, PureCycle Technologies has an average rating of "Hold" and an average target price of $8.20.
View Our Latest Report on PureCycle Technologies
PureCycle Technologies Company Profile
(
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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