PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. lowered its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 34.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,161,208 shares of the company's stock after selling 610,848 shares during the quarter. PureCycle Technologies accounts for 0.6% of Simplify Asset Management Inc.'s holdings, making the stock its 11th biggest holding. Simplify Asset Management Inc. owned approximately 0.67% of PureCycle Technologies worth $11,902,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in shares of 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 buying an additional 2,291 shares during the period. US Bancorp DE boosted its holdings in 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 acquiring an additional 2,019 shares during the period. Keudell Morrison Wealth Management bought a new position in PureCycle Technologies in the 4th quarter valued at $117,000. Cibc World Markets Corp purchased a new stake in PureCycle Technologies in the fourth quarter worth $118,000. Finally, Sei Investments Co. bought a new stake in shares of PureCycle Technologies during the fourth quarter worth $126,000. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Trading Down 1.9 %

PCT stock traded down $0.14 during trading on Thursday, hitting $7.38. The company had a trading volume of 1,357,552 shares, compared to its average volume of 2,204,081. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $10.18. The firm has a market capitalization of $1.32 billion, a P/E ratio of -4.92 and a beta of 1.55. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36.

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PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). As a group, research analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were purchased at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. The trade was a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.09% of the company's stock.

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.