Tributary Capital Management LLC Trims Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Tributary Capital Management LLC trimmed its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 28.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 38,001 shares of the company’s stock after selling 14,830 shares during the period. Tributary Capital Management LLC’s holdings in PureCycle Technologies were worth $390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in PureCycle Technologies in the second quarter worth $69,000. Park Edge Advisors LLC bought a new stake in PureCycle Technologies in the third quarter worth $100,000. Hsbc Holdings PLC boosted its holdings in PureCycle Technologies by 11.4% in the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after acquiring an additional 1,910 shares in the last quarter. Fortis Group Advisors LLC boosted its holdings in PureCycle Technologies by 12.5% in the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Prospera Private Wealth LLC boosted its holdings in PureCycle Technologies by 35.9% in the third quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock worth $147,000 after acquiring an additional 4,080 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on PCT shares. 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. Stifel Nicolaus boosted their target price on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen boosted their target price on 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 Up 0.2 %

Shares of NASDAQ:PCT opened at $9.77 on Friday. 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, Inc. has a 1 year low of $3.13 and a 1 year high of $15.58. The stock’s fifty day moving average price is $11.21 and its 200-day moving average price is $9.41.

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.