IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 96.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,462 shares of the company's stock after selling 325,403 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in PureCycle Technologies were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PCT. FMR LLC grew its position in PureCycle Technologies by 0.5% in the 3rd quarter. FMR LLC now owns 230,755 shares of the company's stock worth $2,192,000 after purchasing an additional 1,083 shares in the last quarter. US Bancorp DE boosted its stake in PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after acquiring an additional 2,019 shares during the last quarter. Arizona State Retirement System grew its position in shares of PureCycle Technologies by 6.1% during the 4th quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after acquiring an additional 2,033 shares during the period. Pine Valley Investments Ltd Liability Co increased its stake in shares of PureCycle Technologies by 13.8% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock worth $188,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake 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 worth $32,000 after acquiring an additional 2,291 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

PureCycle Technologies Stock Performance

Shares of PCT traded up $0.39 during trading hours on Wednesday, hitting $7.22. The company's stock had a trading volume of 1,043,525 shares, compared to its average volume of 2,274,451. The business has a 50 day simple moving average of $8.73 and a two-hundred day simple moving average of $10.24. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -4.81 and a beta of 1.55.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, equities analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.44% of the stock is owned by insiders.

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.