PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Bought by Flagship Private Wealth LLC

Flagship Private Wealth LLC raised its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,781 shares of the company’s stock after acquiring an additional 4,100 shares during the period. Flagship Private Wealth LLC’s holdings in PureCycle Technologies were worth $305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its position in PureCycle Technologies by 37.4% in the second quarter. American Century Companies Inc. now owns 198,218 shares of the company’s stock valued at $1,173,000 after purchasing an additional 53,964 shares during the period. Hsbc Holdings PLC raised its stake in shares of PureCycle Technologies by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after buying an additional 1,910 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of PureCycle Technologies in the 2nd quarter valued at approximately $311,000. ProShare Advisors LLC boosted its stake in shares of PureCycle Technologies by 49.1% in the second quarter. ProShare Advisors LLC now owns 31,128 shares of the company’s stock valued at $184,000 after buying an additional 10,251 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in PureCycle Technologies during the second quarter worth $322,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $9.77 on Friday. The business’s 50-day moving average price is $11.21 and its 200 day moving average price is $9.41. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a twelve month low of $3.13 and a twelve month high of $15.58. The company has a market capitalization of $1.70 billion, a PE ratio of -6.51 and a beta of 1.59.

Analyst Ratings Changes

A number of 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 raised their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen upped their target price on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research 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.