PureCycle Technologies, Inc. (NASDAQ:PCT) Holdings Decreased by Wealth Effects LLC

Wealth Effects LLC lessened its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,200 shares of the company’s stock after selling 28,000 shares during the quarter. Wealth Effects LLC’s holdings in PureCycle Technologies were worth $668,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sylebra Capital LLC boosted its position 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 during the period. Harvard Management Co. Inc. lifted its position in PureCycle Technologies by 249.7% in the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after purchasing an additional 1,783,885 shares during the last quarter. Simplify Asset Management Inc. boosted its stake in PureCycle Technologies by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after purchasing an additional 713,664 shares during the period. Appian Way Asset Management LP grew 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 worth $53,905,000 after purchasing an additional 650,426 shares during the last quarter. Finally, Drive Wealth Management LLC increased 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 during the period. Institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PureCycle Technologies Price Performance

Shares of PureCycle Technologies stock opened at $9.49 on Tuesday. 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 12-month low of $3.66 and a 12-month high of $15.58. The stock’s fifty day moving average is $11.17 and its 200-day moving average is $9.47.

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.