Van ECK Associates Corp Decreases Stock Holdings in PureCycle Technologies, Inc. (NYSE:PCT)

Van ECK Associates Corp lessened its stake in PureCycle Technologies, Inc. (NYSE:PCT) by 36.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 297,842 shares of the company’s stock after selling 167,264 shares during the quarter. Van ECK Associates Corp owned approximately 0.18% of PureCycle Technologies worth $1,206,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PCT. Commonwealth Equity Services LLC purchased a new stake in shares of PureCycle Technologies during the third quarter worth about $75,000. Cambridge Investment Research Advisors Inc. increased its stake in PureCycle Technologies by 9.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 147,612 shares of the company’s stock worth $828,000 after buying an additional 12,817 shares in the last quarter. Raymond James & Associates raised its holdings in shares of PureCycle Technologies by 12.2% during the third quarter. Raymond James & Associates now owns 41,360 shares of the company’s stock valued at $232,000 after acquiring an additional 4,500 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of PureCycle Technologies by 104.0% in the third quarter. Stratos Wealth Partners LTD. now owns 38,065 shares of the company’s stock valued at $214,000 after acquiring an additional 19,410 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of PureCycle Technologies by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 417,712 shares of the company’s stock worth $2,343,000 after acquiring an additional 11,966 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Stock Up 2.3 %

Shares of PCT opened at $4.88 on Friday. The stock has a 50 day moving average price of $5.48 and a 200 day moving average price of $4.61. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92. The stock has a market capitalization of $802.47 million, a price-to-earnings ratio of -7.23 and a beta of 1.60. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year high of $11.89.

PureCycle Technologies (NYSE:PCT) last released its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. Equities research analysts forecast that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity at PureCycle Technologies

In related news, Director Fernando Musa bought 18,303 shares of the stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the acquisition, the director now directly owns 68,413 shares in the company, valued at approximately $373,534.98. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.09% of the stock is owned by corporate insiders.

PureCycle Technologies 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.