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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in shares of PureCycle Technologies by 286.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after purchasing an additional 2,291 shares in the last quarter. US Bancorp DE grew its holdings in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after purchasing an additional 2,019 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of PureCycle Technologies in the fourth quarter valued at $127,000. Bank of New York Mellon Corp grew its holdings in shares of PureCycle Technologies by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 359,032 shares of the company’s stock valued at $3,680,000 after purchasing an additional 12,878 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of PureCycle Technologies by 13.8% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company’s stock valued at $188,000 after purchasing an additional 2,230 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Down 9.1 %

Shares of PCT opened at $9.36 on Tuesday. The company has a market cap of $1.62 billion, a PE ratio of -6.24 and a beta of 1.58. The business has a fifty day moving average of $9.70 and a 200 day moving average of $9.97. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analysts Set New Price Targets

PCT has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th. TD Cowen raised their price target on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their price target on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was acquired at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.44% of the company’s stock.

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.