Van ECK Associates Corp Reduces Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Van ECK Associates Corp trimmed its stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,527 shares of the company's stock after selling 65,784 shares during the period. Van ECK Associates Corp owned about 0.16% of PureCycle Technologies worth $2,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in PureCycle Technologies by 0.5% in the 3rd quarter. FMR LLC now owns 230,755 shares of the company's stock valued at $2,192,000 after buying an additional 1,083 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of PureCycle Technologies by 8.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 31,085 shares of the company's stock valued at $319,000 after purchasing an additional 2,400 shares in the last quarter. Focused Wealth Management Inc raised its holdings in shares of PureCycle Technologies by 27.9% in the 4th quarter. Focused Wealth Management Inc now owns 16,605 shares of the company's stock valued at $170,000 after purchasing an additional 3,620 shares in the last quarter. Prospera Private Wealth LLC raised 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 valued at $147,000 after purchasing an additional 4,080 shares in the last quarter. Finally, Flagship Private Wealth LLC raised its holdings in shares of PureCycle Technologies by 16.0% in the 4th quarter. Flagship Private Wealth LLC now owns 29,781 shares of the company's stock valued at $305,000 after purchasing an additional 4,100 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCT. TD Cowen boosted their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $14.00 price target on shares of PureCycle Technologies in a report on Tuesday, November 19th. Finally, Stifel Nicolaus boosted their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, November 12th.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the company's stock in a transaction on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the transaction, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.44% of the stock is currently owned by company insiders.

PureCycle Technologies Stock Down 7.1 %

Shares of NASDAQ PCT traded down $0.75 during trading hours on Friday, hitting $9.83. 2,383,556 shares of the stock were exchanged, compared to its average volume of 2,164,956. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.71 billion, a PE ratio of -6.55 and a beta of 1.58. The firm has a fifty day moving average price of $9.91 and a 200-day moving average price of $9.74. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $15.58.

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.