PureCycle Technologies, Inc. (NYSE:PCT) Shares Purchased by Wealth Effects LLC

Wealth Effects LLC raised its position in PureCycle Technologies, Inc. (NYSE:PCT) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,900 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Wealth Effects LLC owned approximately 0.05% of PureCycle Technologies worth $526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. VitalStone Financial LLC grew its holdings in shares of PureCycle Technologies by 163.9% in the fourth quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock valued at $38,000 after purchasing an additional 5,900 shares in the last quarter. National Bank of Canada FI grew its stake in shares of PureCycle Technologies by 45.8% in the fourth quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock worth $52,000 after acquiring an additional 4,388 shares in the last quarter. Fortis Group Advisors LLC purchased a new stake in shares of PureCycle Technologies during the first quarter worth $67,000. Victory Capital Management Inc. raised its stake in shares of PureCycle Technologies by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock valued at $69,000 after acquiring an additional 3,128 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in PureCycle Technologies in the first quarter valued at $70,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Price Performance

NYSE PCT traded up $0.02 during trading on Wednesday, reaching $5.81. 27,428 shares of the company’s stock were exchanged, compared to its average volume of 2,109,884. The company has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $5.72. PureCycle Technologies, Inc. has a 1 year low of $2.38 and a 1 year high of $9.17. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06.

PureCycle Technologies (NYSE:PCT) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Sell-side analysts forecast that PureCycle Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

PCT has been the topic of several recent research reports. Stifel Nicolaus upped their price target on PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Craig Hallum upped their target price on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, TD Cowen raised their target price on shares of PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.75.

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.