PureCycle Technologies, Inc. (NYSE:PCT) is SWS Partners’ 8th Largest Position

SWS Partners trimmed its stake in PureCycle Technologies, Inc. (NYSE:PCT) by 18.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 733,729 shares of the company’s stock after selling 161,816 shares during the quarter. PureCycle Technologies accounts for 2.2% of SWS Partners’ portfolio, making the stock its 8th largest position. SWS Partners owned about 0.45% of PureCycle Technologies worth $6,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCT. Virtu Financial LLC bought a new position in PureCycle Technologies during the fourth quarter valued at approximately $202,000. Abundance Wealth Counselors grew its holdings in PureCycle Technologies by 21.0% during the first quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock valued at $42,185,000 after purchasing an additional 1,178,570 shares during the last quarter. Fortis Group Advisors LLC acquired a new position in PureCycle Technologies during the first quarter valued at approximately $67,000. Almanack Investment Partners LLC. grew its holdings in PureCycle Technologies by 59.1% during the first quarter. Almanack Investment Partners LLC. now owns 41,310 shares of the company’s stock valued at $257,000 after purchasing an additional 15,341 shares during the last quarter. Finally, RIA Advisory Group LLC grew its holdings in PureCycle Technologies by 335.1% during the first quarter. RIA Advisory Group LLC now owns 43,512 shares of the company’s stock valued at $271,000 after purchasing an additional 33,512 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock traded up $0.38 during midday trading on Tuesday, hitting $9.75. The company had a trading volume of 943,722 shares, compared to its average volume of 2,241,406. The business’s 50 day simple moving average is $7.34 and its two-hundred day simple moving average is $6.28. The stock has a market cap of $1.61 billion, a PE ratio of -9.19 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. PureCycle Technologies, Inc. has a 1-year low of $2.38 and a 1-year high of $10.68.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.13). As a group, equities analysts predict that PureCycle Technologies, Inc. will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PCT. Stifel Nicolaus increased their price target on PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, August 12th. TD Cowen increased their price target on PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Craig Hallum increased their price target on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, PureCycle Technologies presently has an average rating of “Hold” and a consensus target price of $6.75.

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.