Patriot Financial Group Insurance Agency LLC Cuts Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Patriot Financial Group Insurance Agency LLC trimmed its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,571 shares of the company’s stock after selling 1,560 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in PureCycle Technologies were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PCT. Sylebra Capital LLC increased its stake in PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after purchasing an additional 4,264,393 shares in the last quarter. Harvard Management Co. Inc. increased its position in shares of PureCycle Technologies by 249.7% during the third quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after acquiring an additional 1,783,885 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in PureCycle Technologies by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after acquiring an additional 713,664 shares during the last quarter. Appian Way Asset Management LP lifted its position in PureCycle Technologies by 12.9% in the 3rd quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after acquiring an additional 650,426 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its stake in PureCycle Technologies by 767.7% during the 4th 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 during the last quarter. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Performance

PCT stock opened at $9.38 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. PureCycle Technologies, Inc. has a 1 year low of $3.75 and a 1 year high of $15.58. The company has a market cap of $1.63 billion, a P/E ratio of -6.25 and a beta of 1.59. The stock’s fifty day moving average price is $11.08 and its 200-day moving average price is $9.50.

Analysts Set New Price Targets

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

PureCycle Technologies Company 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.