Fourpath Capital Management LLC Has $236,000 Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Fourpath Capital Management LLC increased its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 49.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,061 shares of the company’s stock after purchasing an additional 7,625 shares during the period. Fourpath Capital Management LLC’s holdings in PureCycle Technologies were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sylebra Capital LLC grew its position in PureCycle Technologies by 14.6% during the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after buying an additional 4,264,393 shares in the last quarter. Verus Capital Partners LLC grew its holdings in shares of PureCycle Technologies by 465.8% during the 3rd quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock worth $1,212,000 after purchasing an additional 105,000 shares in the last quarter. IHT Wealth Management LLC bought a new stake in shares of PureCycle Technologies during the third quarter valued at approximately $485,000. Drive Wealth Management LLC raised its stake in shares of PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after purchasing an additional 272,527 shares in the last quarter. Finally, Simplify Asset Management Inc. lifted its position in PureCycle Technologies by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after purchasing an additional 713,664 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 5.1 %

Shares of NASDAQ:PCT opened at $8.49 on Wednesday. The company has a market capitalization of $1.47 billion, a PE ratio of -5.66 and a beta of 1.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The company’s fifty day moving average is $10.80 and its 200-day moving average is $9.61. PureCycle Technologies, Inc. has a 52 week low of $3.92 and a 52 week high of $15.58.

Wall Street Analyst Weigh In

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

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.