PureCycle Technologies, Inc. (NYSE:PCT) Shares Acquired by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC lifted its stake in PureCycle Technologies, Inc. (NYSE:PCT) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,951 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in PureCycle Technologies were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new stake in shares of PureCycle Technologies in the 1st quarter worth $67,000. Algert Global LLC purchased a new position in PureCycle Technologies during the second quarter worth about $69,000. Tidal Investments LLC acquired a new position in PureCycle Technologies in the 1st quarter valued at about $70,000. Bayesian Capital Management LP purchased a new stake in shares of PureCycle Technologies in the 1st quarter valued at approximately $98,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth approximately $104,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

PCT stock opened at $10.29 on Thursday. The business’s fifty day moving average price is $7.48 and its 200 day moving average price is $6.33. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $10.68. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $1.69 billion, a PE ratio of -10.09 and a beta of 1.63.

PureCycle Technologies (NYSE:PCT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). On average, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -0.85 EPS for the current year.

Analysts Set New Price Targets

PCT has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. TD Cowen increased their price target on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Craig Hallum boosted their price objective 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, PureCycle Technologies has a consensus rating of “Hold” and an average target price of $6.75.

Insider Buying and Selling

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.44% of the stock is owned by insiders.

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.