Sanctuary Advisors LLC Acquires 89,875 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Sanctuary Advisors LLC boosted its position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 77.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,339 shares of the company's stock after buying an additional 89,875 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.12% of PureCycle Technologies worth $1,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Algert Global LLC acquired a new position in shares of PureCycle Technologies in the 2nd quarter valued at about $69,000. Park Edge Advisors LLC acquired a new position in PureCycle Technologies in the third quarter valued at approximately $100,000. Hsbc Holdings PLC grew its holdings in shares of PureCycle Technologies by 11.4% during the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company's stock valued at $111,000 after purchasing an additional 1,910 shares during the last quarter. Fortis Group Advisors LLC raised its position in shares of PureCycle Technologies by 12.5% during the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company's stock worth $117,000 after purchasing an additional 1,376 shares during the period. Finally, Prospera Private Wealth LLC lifted its holdings in shares of PureCycle Technologies by 35.9% in the 3rd quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company's stock worth $147,000 after purchasing an additional 4,080 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Stock Down 2.8 %

Shares of NASDAQ:PCT traded down $0.30 during midday trading on Thursday, hitting $10.37. 3,515,162 shares of the stock were exchanged, compared to its average volume of 2,378,543. The company has a market capitalization of $1.80 billion, a PE ratio of -6.91 and a beta of 1.53. PureCycle Technologies, Inc. has a 52-week low of $2.38 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The business's fifty day simple moving average is $12.15 and its two-hundred day simple moving average is $8.58.

Analyst Ratings Changes

PCT has been the subject of a number of analyst reports. TD Cowen boosted their target price 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. Stifel Nicolaus upped their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, PureCycle Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $10.60.

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.