T. Rowe Price Investment Management Inc. Purchases New Shares in PureCycle Technologies, Inc. (NASDAQ:PCT)

T. Rowe Price Investment Management Inc. purchased a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,352,087 shares of the company's stock, valued at approximately $13,859,000. T. Rowe Price Investment Management Inc. owned 0.78% of PureCycle Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after acquiring an additional 2,291 shares during the period. Sterling Capital Management LLC boosted its position in PureCycle Technologies by 775.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock worth $33,000 after acquiring an additional 2,861 shares during the period. US Bancorp DE boosted its position in PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after acquiring an additional 2,019 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in PureCycle Technologies during the 4th quarter worth about $80,000. Finally, Keudell Morrison Wealth Management acquired a new stake in PureCycle Technologies during the 4th quarter worth about $117,000. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Trading Down 1.6 %

Shares of NASDAQ PCT opened at $6.74 on Monday. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year high of $15.58. The firm has a market capitalization of $1.21 billion, a PE ratio of -4.49 and a beta of 1.68. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $7.56 and a two-hundred day moving average price of $9.82.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.32). As a group, analysts predict 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 bought 619,925 shares of PureCycle Technologies stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the acquisition, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.67% of the stock is owned by corporate insiders.

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.

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