Sylebra Capital Llc Purchases 619,925 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) Stock

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) major shareholder Sylebra Capital Llc bought 619,925 shares of the stock in a transaction dated 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 completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

PureCycle Technologies Stock Performance

NASDAQ:PCT traded up $0.09 during trading hours on Thursday, reaching $8.90. 720,312 shares of the stock were exchanged, compared to its average volume of 1,968,944. The stock has a market capitalization of $1.55 billion, a P/E ratio of -5.94 and a beta of 1.58. The firm has a 50 day simple moving average of $10.23 and a 200-day simple moving average of $9.65. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. 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 report on Tuesday, November 12th. Finally, TD Cowen increased their price objective 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.

Hedge Funds Weigh In On PureCycle Technologies

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after purchasing an additional 2,291 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of PureCycle Technologies by 775.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after buying an additional 2,861 shares during the period. US Bancorp DE grew its position in shares of PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after buying an additional 2,019 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in PureCycle Technologies during the fourth quarter worth about $80,000. Finally, Park Edge Advisors LLC bought a new position in PureCycle Technologies in the third quarter worth about $100,000. 63.01% of the stock is currently owned by institutional investors.

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.