First National Advisers LLC Sells 48,932 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

First National Advisers LLC lessened its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,584 shares of the company’s stock after selling 48,932 shares during the period. First National Advisers LLC owned approximately 0.16% of PureCycle Technologies worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCT. RIA Advisory Group LLC bought a new stake in shares of PureCycle Technologies during the 3rd quarter worth approximately $405,000. Chesapeake Capital Corp IL bought a new stake in shares of PureCycle Technologies during the 3rd quarter worth approximately $293,000. Quest Partners LLC bought a new position in PureCycle Technologies in the 3rd quarter valued at approximately $300,000. Drive Wealth Management LLC lifted its stake in PureCycle Technologies by 184.0% in the 3rd quarter. Drive Wealth Management LLC now owns 35,500 shares of the company’s stock valued at $337,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Prospera Private Wealth LLC lifted its stake in PureCycle Technologies by 35.9% in the 3rd quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock valued at $147,000 after purchasing an additional 4,080 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Activity

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.44% of the company’s stock.

PureCycle Technologies Price Performance

PCT stock opened at $7.70 on Friday. The company has a fifty day moving average price of $9.28 and a 200-day moving average price of $10.09. The company has a market capitalization of $1.38 billion, a P/E ratio of -5.13 and a beta of 1.55. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results 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 expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

PCT has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, November 19th. TD Cowen increased 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 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.