PureCycle Technologies, Inc. (NYSE:PCT) Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC raised its position in PureCycle Technologies, Inc. (NYSE:PCT) by 6.3% during the third quarter, HoldingsChannel reports. The firm owned 33,951 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in PureCycle Technologies were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PCT. Longview Asset Management LLC purchased a new stake in PureCycle Technologies during the 2nd quarter worth about $57,521,000. Abundance Wealth Counselors raised its position in shares of PureCycle Technologies by 21.0% during the 1st quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock worth $42,185,000 after acquiring an additional 1,178,570 shares in the last quarter. Van ECK Associates Corp purchased a new stake in PureCycle Technologies during the second quarter worth approximately $3,121,000. Sanctuary Advisors LLC acquired a new position in PureCycle Technologies in the second quarter valued at approximately $689,000. Finally, Long Focus Capital Management LLC increased its stake in PureCycle Technologies by 3.2% in the second quarter. Long Focus Capital Management LLC now owns 2,403,781 shares of the company’s stock valued at $14,230,000 after purchasing an additional 75,000 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.44% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of PCT opened at $10.29 on Thursday. The company’s 50 day simple moving average is $7.48 and its 200-day simple moving average is $6.33. The firm has a market cap of $1.69 billion, a PE ratio of -10.09 and a beta of 1.63. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $10.68. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06.

PureCycle Technologies (NYSE:PCT) last issued 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 year.

Wall Street Analysts Forecast Growth

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

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.