Fortis Group Advisors LLC Has $328,000 Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Fortis Group Advisors LLC raised its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 159.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 32,025 shares of the company’s stock after acquiring an additional 19,666 shares during the quarter. Fortis Group Advisors LLC’s holdings in PureCycle Technologies were worth $328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highview Capital Management LLC DE acquired a new position in PureCycle Technologies in the 4th quarter valued at approximately $324,000. Sylebra Capital LLC increased its position in shares of PureCycle Technologies by 14.6% during the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after buying an additional 4,264,393 shares during the period. Verus Capital Partners LLC increased its position in shares of PureCycle Technologies by 465.8% during the third quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock worth $1,212,000 after buying an additional 105,000 shares during the period. IHT Wealth Management LLC acquired a new stake in shares of PureCycle Technologies during the third quarter worth $485,000. Finally, Drive Wealth Management LLC increased its position in shares of PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after buying an additional 272,527 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PCT shares. TD Cowen increased their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus increased their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

PureCycle Technologies Stock Up 17.1 %

Shares of NASDAQ PCT opened at $10.90 on Wednesday. The firm has a market cap of $1.89 billion, a PE ratio of -7.27 and a beta of 1.58. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. The company’s fifty day simple moving average is $9.98 and its 200 day simple moving average is $9.73. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36.

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.