Stifel Financial Corp Has $3.19 Million Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Stifel Financial Corp lessened its stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 32.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 335,772 shares of the company's stock after selling 162,917 shares during the quarter. Stifel Financial Corp owned 0.20% of PureCycle Technologies worth $3,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of PureCycle Technologies by 12.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,521 shares of the company's stock valued at $222,000 after buying an additional 4,191 shares during the last quarter. Bank of New York Mellon Corp grew its position in PureCycle Technologies by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 448,088 shares of the company's stock worth $2,653,000 after acquiring an additional 61,158 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in PureCycle Technologies by 1.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company's stock worth $1,087,000 after acquiring an additional 2,083 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of PureCycle Technologies by 7.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company's stock worth $159,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of PureCycle Technologies during the 2nd quarter valued at $3,121,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

PCT has been the subject of a number of recent research reports. 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $14.00 price target on shares of PureCycle Technologies in a research note on Tuesday, November 19th. Finally, TD Cowen raised their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, PureCycle Technologies has an average rating of "Moderate Buy" and a consensus target price of $10.60.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock traded down $1.01 during trading on Wednesday, reaching $10.67. The company's stock had a trading volume of 3,121,996 shares, compared to its average volume of 2,373,854. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year 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 firm has a market cap of $1.85 billion, a price-to-earnings ratio of -7.11 and a beta of 1.53. The business's fifty day moving average price is $12.15 and its 200-day moving average price is $8.58.

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.