Sylebra Capital Llc Acquires 619,925 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) Stock

PureCycle Technologies, Inc. (NASDAQ:PCT) major shareholder Sylebra Capital Llc purchased 619,925 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the transaction, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

PureCycle Technologies Stock Up 3.3 %

Shares of NASDAQ:PCT opened at $8.76 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $15.58. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -5.84 and a beta of 1.58. The firm’s 50 day moving average price is $10.32 and its 200 day moving average price is $9.66.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in PureCycle Technologies by 7.6% during the second quarter. The Manufacturers Life Insurance Company now owns 48,359 shares of the company’s stock worth $286,000 after purchasing an additional 3,405 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of PureCycle Technologies during the 2nd quarter worth approximately $689,000. SG Americas Securities LLC boosted its holdings in shares of PureCycle Technologies by 154.5% in the 3rd quarter. SG Americas Securities LLC now owns 44,680 shares of the company’s stock valued at $424,000 after buying an additional 27,125 shares in the last quarter. Lake Hills Wealth Management LLC purchased a new stake in PureCycle Technologies in the third quarter valued at $446,000. Finally, VitalStone Financial LLC grew its holdings in shares of PureCycle Technologies by 16.9% during the third quarter. VitalStone Financial LLC now owns 77,027 shares of the company’s stock worth $732,000 after purchasing an additional 11,145 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.