GFS Advisors LLC Takes $206,000 Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

GFS Advisors LLC acquired a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,100 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently bought and sold shares of the company. Sylebra Capital LLC increased its stake in shares of 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 period. Verus Capital Partners LLC increased its position in PureCycle Technologies by 465.8% in the 3rd quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after acquiring an additional 105,000 shares during the period. IHT Wealth Management LLC bought a new stake in PureCycle Technologies during the 3rd quarter valued at $485,000. Drive Wealth Management LLC raised its stake in PureCycle Technologies by 767.7% during the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after acquiring an additional 272,527 shares in the last quarter. Finally, Simplify Asset Management Inc. boosted its position in PureCycle Technologies by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after acquiring an additional 713,664 shares during the period. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock opened at $9.31 on Friday. The business has a fifty day simple moving average of $10.98 and a 200-day simple moving average of $9.52. PureCycle Technologies, Inc. has a fifty-two week low of $3.75 and a fifty-two 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.

Wall Street Analysts Forecast Growth

PCT has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, November 19th. TD Cowen boosted their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

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.