WMG Financial Advisors LLC Acquires New Shares in PureCycle Technologies, Inc. (NASDAQ:PCT)

WMG Financial Advisors LLC acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 29,650 shares of the company’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highview Capital Management LLC DE purchased a new position in PureCycle Technologies in the fourth quarter valued at about $324,000. Sylebra Capital LLC grew its stake in PureCycle Technologies by 14.6% in the third 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 last quarter. Verus Capital Partners LLC grew its stake in PureCycle Technologies by 465.8% in the third quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after purchasing an additional 105,000 shares during the last quarter. IHT Wealth Management LLC purchased a new position in PureCycle Technologies in the third quarter valued at about $485,000. Finally, Drive Wealth Management LLC grew its stake in 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 last quarter. 63.01% of the stock is currently owned by institutional investors.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the acquisition, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.44% of the company’s stock.

PureCycle Technologies Stock Performance

PCT opened at $9.36 on Tuesday. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.62 billion, a P/E ratio of -6.24 and a beta of 1.58. The firm’s 50-day moving average price is $9.70 and its 200-day moving average price is $9.97.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.32). As a group, equities analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PCT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th. TD Cowen lifted their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus boosted 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.

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.