Wealth Effects LLC Has $885,000 Stock Holdings in PureCycle Technologies, Inc. (NYSE:PCT)

Wealth Effects LLC lifted its position in PureCycle Technologies, Inc. (NYSE:PCT) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,200 shares of the company’s stock after buying an additional 4,300 shares during the quarter. Wealth Effects LLC’s holdings in PureCycle Technologies were worth $885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PCT. Virtu Financial LLC bought a new stake in PureCycle Technologies during the fourth quarter valued at about $202,000. Abundance Wealth Counselors lifted 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 purchasing an additional 1,178,570 shares during the last quarter. Fortis Group Advisors LLC bought a new stake in PureCycle Technologies during the 1st quarter valued at approximately $67,000. Almanack Investment Partners LLC. grew its holdings in PureCycle Technologies by 59.1% in the 1st quarter. Almanack Investment Partners LLC. now owns 41,310 shares of the company’s stock valued at $257,000 after buying an additional 15,341 shares during the last quarter. Finally, RIA Advisory Group LLC increased its position in PureCycle Technologies by 335.1% in the 1st quarter. RIA Advisory Group LLC now owns 43,512 shares of the company’s stock worth $271,000 after buying an additional 33,512 shares during the period. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Price Performance

Shares of PCT stock traded down $0.08 during mid-day trading on Monday, reaching $10.60. The company’s stock had a trading volume of 657,289 shares, compared to its average volume of 2,253,575. The firm’s 50-day moving average is $7.65 and its two-hundred day moving average is $6.40. The company has a market cap of $1.75 billion, a P/E ratio of -10.47 and a beta of 1.63. PureCycle Technologies, Inc. has a 1-year low of $2.38 and a 1-year high of $11.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.67.

PureCycle Technologies (NYSE:PCT) last posted its quarterly earnings results 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). On average, research analysts predict that PureCycle Technologies, Inc. will post -0.85 earnings per share for the current year.

Insider Transactions at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald initiated coverage on PureCycle Technologies in a research report on Friday. They issued an “overweight” rating and a $14.00 price objective for the company. Craig Hallum increased their price target on shares of PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Stifel Nicolaus boosted their price objective on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, TD Cowen increased their target price on shares of PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.20.

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.