SWS Partners Has $7.55 Million Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

SWS Partners boosted its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 736,732 shares of the company’s stock after purchasing an additional 3,003 shares during the quarter. PureCycle Technologies comprises 2.3% of SWS Partners’ holdings, making the stock its 7th biggest position. SWS Partners owned approximately 0.42% of PureCycle Technologies worth $7,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of PureCycle Technologies by 0.5% in the third quarter. FMR LLC now owns 230,755 shares of the company’s stock worth $2,192,000 after purchasing an additional 1,083 shares in the last quarter. US Bancorp DE grew its position in PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after buying an additional 2,019 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in PureCycle Technologies by 13.8% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company’s stock valued at $188,000 after buying an additional 2,230 shares during the period. Jones Financial Companies Lllp increased its stake in PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after buying an additional 2,291 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of PureCycle Technologies by 8.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 31,085 shares of the company’s stock worth $319,000 after buying an additional 2,400 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, TD Cowen upped their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th.

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.44% of the stock is currently owned by company insiders.

PureCycle Technologies Trading Down 9.1 %

Shares of NASDAQ:PCT opened at $9.36 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.24 and a beta of 1.58. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The company has a 50 day moving average price of $9.70 and a 200 day moving average price of $9.97.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.