Y Intercept Hong Kong Ltd Invests $289,000 in PureCycle Technologies, Inc. (NASDAQ:PCT)

Y Intercept Hong Kong Ltd acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,391 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Algert Global LLC acquired a new stake in shares of PureCycle Technologies during the 2nd quarter worth approximately $69,000. Park Edge Advisors LLC acquired a new stake in PureCycle Technologies during the third quarter valued at $100,000. Hsbc Holdings PLC grew its position in PureCycle Technologies by 11.4% during the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after buying an additional 1,910 shares during the period. Fortis Group Advisors LLC increased its holdings in PureCycle Technologies by 12.5% in the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock valued at $117,000 after buying an additional 1,376 shares in the last quarter. Finally, Prospera Private Wealth LLC raised its position in shares of PureCycle Technologies by 35.9% in the third quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock worth $147,000 after acquiring an additional 4,080 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $11.68 on Wednesday. The stock has a 50 day moving average of $12.11 and a two-hundred day moving average of $8.56. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $15.58. The firm has a market cap of $2.03 billion, a P/E ratio of -7.79 and a beta of 1.53. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Cowen raised their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Stifel Nicolaus raised their price objective on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, PureCycle Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $10.60.

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.