Raymond James Financial Inc. Acquires New Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Raymond James Financial Inc. purchased a new position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 138,027 shares of the company's stock, valued at approximately $1,415,000. Raymond James Financial Inc. owned 0.08% of PureCycle Technologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of PureCycle Technologies during the 3rd quarter valued at about $310,000. Charles Schwab Investment Management Inc. boosted its stake in PureCycle Technologies by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,100,281 shares of the company's stock valued at $10,453,000 after buying an additional 19,989 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in PureCycle Technologies by 32.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 64,196 shares of the company's stock valued at $610,000 after buying an additional 15,837 shares in the last quarter. FMR LLC increased its stake 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 acquiring an additional 1,083 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in shares of PureCycle Technologies during the 3rd quarter worth approximately $485,000. 63.01% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the business's stock in a transaction on Thursday, February 6th. The shares were acquired at an average price 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. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.44% of the company's stock.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT traded down $0.85 during midday trading on Friday, reaching $5.99. 7,055,618 shares of the stock traded hands, compared to its average volume of 2,258,993. The company's 50 day moving average is $8.55 and its 200 day moving average is $10.20. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year 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 stock has a market capitalization of $1.07 billion, a PE ratio of -3.99 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). On average, equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current 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.