PureCycle Technologies, Inc. (NASDAQ:PCT) is Sylebra Capital LLC's 3rd Largest Position

Sylebra Capital LLC grew its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,457,649 shares of the company's stock after purchasing an additional 4,264,393 shares during the quarter. PureCycle Technologies makes up about 10.5% of Sylebra Capital LLC's holdings, making the stock its 3rd biggest position. Sylebra Capital LLC owned 20.28% of PureCycle Technologies worth $317,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Longview Asset Management LLC acquired a new stake in PureCycle Technologies during the second quarter worth approximately $57,521,000. Abundance Wealth Counselors grew its position in shares of PureCycle Technologies by 6.0% during the second quarter. Abundance Wealth Counselors now owns 7,189,490 shares of the company's stock worth $42,562,000 after acquiring an additional 407,353 shares during the last quarter. Appian Way Asset Management LP grew its position in shares of PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company's stock worth $53,905,000 after acquiring an additional 650,426 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in shares of PureCycle Technologies by 1.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 3,339,952 shares of the company's stock worth $31,730,000 after acquiring an additional 44,571 shares during the last quarter. Finally, State Street Corp grew its position in shares of PureCycle Technologies by 0.8% during the third quarter. State Street Corp now owns 2,809,178 shares of the company's stock worth $26,687,000 after acquiring an additional 21,706 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Transactions at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company's stock, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.09% of the company's stock.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT traded up $0.04 during trading on Tuesday, hitting $12.79. 1,563,976 shares of the company were exchanged, compared to its average volume of 2,378,256. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -8.53 and a beta of 1.53. PureCycle Technologies, Inc. has a 1 year low of $2.38 and a 1 year high of $15.58. The firm's fifty day moving average price is $11.84 and its 200 day moving average price is $8.33. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Stifel Nicolaus raised their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, TD Cowen lifted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, PureCycle Technologies presently has an average rating of "Moderate Buy" and an average target price of $10.60.

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.