SWS Partners Acquires 3,003 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

SWS Partners increased its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 736,732 shares of the company’s stock after buying an additional 3,003 shares during the quarter. PureCycle Technologies comprises approximately 2.3% of SWS Partners’ portfolio, making the stock its 7th largest holding. SWS Partners’ holdings in PureCycle Technologies were worth $7,552,000 as of its most recent SEC filing.

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

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 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, for a total transaction of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $9.36 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The stock has a market capitalization of $1.62 billion, a P/E ratio of -6.24 and a beta of 1.58. The business has a 50-day moving average of $9.70 and a two-hundred day moving average of $9.97. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58.

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

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.