PureCycle Technologies, Inc. (NASDAQ:PCT) Position Reduced by Long Focus Capital Management LLC

Long Focus Capital Management LLC reduced its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 603,781 shares of the company's stock after selling 600,000 shares during the quarter. Long Focus Capital Management LLC owned about 0.35% of PureCycle Technologies worth $6,189,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Highview Capital Management LLC DE acquired a new stake in PureCycle Technologies during the fourth quarter valued at approximately $324,000. Vanguard Group Inc. lifted its position in shares of PureCycle Technologies by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock valued at $144,530,000 after acquiring an additional 758,382 shares during the last quarter. Drive Wealth Management LLC boosted its stake in shares of PureCycle Technologies by 767.7% during the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after acquiring an additional 272,527 shares in the last quarter. Geode Capital Management LLC boosted 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. Finally, US Bancorp DE grew its holdings in shares of PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after acquiring an additional 2,019 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the firm's stock in a transaction that occurred on 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 acquisition, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.67% of the stock is currently owned by corporate insiders.

PureCycle Technologies Trading Up 14.7 %

NASDAQ:PCT opened at $6.39 on Wednesday. The stock has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $9.87. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -4.26 and a beta of 1.68. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. 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 (NASDAQ:PCT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). Sell-side analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

PureCycle Technologies Company 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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