ORG Wealth Partners LLC Acquires 5,697 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

ORG Wealth Partners LLC increased its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 27.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 26,209 shares of the company’s stock after purchasing an additional 5,697 shares during the quarter. ORG Wealth Partners LLC’s holdings in PureCycle Technologies were worth $269,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PCT. Bank of New York Mellon Corp increased its stake 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 valued at $2,653,000 after purchasing an additional 61,158 shares in the last quarter. Rhumbline Advisers increased its position in PureCycle Technologies by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 186,984 shares of the company’s stock valued at $1,107,000 after buying an additional 9,769 shares in the last quarter. Arizona State Retirement System raised its stake in PureCycle Technologies by 10.0% during the 2nd quarter. Arizona State Retirement System now owns 32,225 shares of the company’s stock worth $191,000 after buying an additional 2,918 shares during the period. American Century Companies Inc. boosted its holdings in PureCycle Technologies by 37.4% in the second quarter. American Century Companies Inc. now owns 198,218 shares of the company’s stock worth $1,173,000 after acquiring an additional 53,964 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in PureCycle Technologies by 11.4% in the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after acquiring an additional 1,910 shares during the period. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCT. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th. Stifel Nicolaus lifted their price objective 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. Finally, 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 report on Wednesday, November 20th.

PureCycle Technologies Stock Down 4.1 %

Shares of PCT traded down $0.40 during trading hours on Friday, reaching $9.33. 1,240,254 shares of the stock traded hands, compared to its average volume of 1,671,693. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $15.58. 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 stock has a fifty day simple moving average of $11.80 and a 200 day simple moving average of $9.08. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -6.22 and a beta of 1.59.

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.