WMG Financial Advisors LLC Buys New Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

WMG Financial Advisors LLC acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,650 shares of the company's stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCT. Jones Financial Companies Lllp raised its holdings 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 acquiring an additional 2,291 shares in the last quarter. US Bancorp DE increased its position in shares of PureCycle Technologies by 141.5% during the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after buying an additional 2,019 shares during the period. Keudell Morrison Wealth Management purchased a new position in shares of PureCycle Technologies in the 4th quarter valued at approximately $117,000. Proficio Capital Partners LLC bought a new stake in shares of PureCycle Technologies during the fourth quarter valued at approximately $127,000. Finally, Truist Financial Corp purchased a new stake in PureCycle Technologies in the fourth quarter worth $145,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Performance

NASDAQ:PCT traded down $0.48 during trading hours on Friday, reaching $8.65. The company had a trading volume of 3,431,377 shares, compared to its average volume of 2,196,333. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -5.77 and a beta of 1.55. The firm's 50 day moving average price is $9.60 and its 200-day moving average price is $9.98.

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PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its 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). On average, analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PCT shares. TD Cowen upped their target price on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an "overweight" rating and set a $14.00 price target on shares of PureCycle Technologies in a report on Tuesday, November 19th. Finally, Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th.

Insider Activity at PureCycle Technologies

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

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.