10,000 Shares in PureCycle Technologies, Inc. (NYSE:PCT) Bought by RIA Advisory Group LLC

RIA Advisory Group LLC bought a new stake in PureCycle Technologies, Inc. (NYSE:PCT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 10,000 shares of the company’s stock, valued at approximately $40,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its position in shares of PureCycle Technologies by 113,962.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,370,710 shares of the company’s stock worth $306,706,000 after acquiring an additional 45,330,933 shares in the last quarter. Sylebra Capital LLC bought a new stake in PureCycle Technologies in the third quarter valued at $163,774,000. Alliancebernstein L.P. grew its holdings in shares of PureCycle Technologies by 1,171.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,378,520 shares of the company’s stock valued at $9,319,000 after buying an additional 1,270,100 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of PureCycle Technologies by 57.3% during the first quarter. Balyasny Asset Management L.P. now owns 2,873,531 shares of the company’s stock valued at $20,115,000 after buying an additional 1,047,268 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in PureCycle Technologies by 11.2% during the second quarter. BlackRock Inc. now owns 8,067,267 shares of the company’s stock worth $86,239,000 after purchasing an additional 814,248 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lowered shares of PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.75.

PureCycle Technologies Trading Up 2.7 %

PCT stock opened at $5.24 on Friday. The company’s fifty day moving average price is $5.58 and its 200-day moving average price is $4.62. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92. 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 quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.08. Research analysts forecast that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

Insider Transactions at PureCycle Technologies

In other news, Director Fernando Musa bought 18,303 shares of the stock in a transaction on Friday, March 8th. The shares were bought at an average price of $5.46 per share, with a total value of $99,934.38. Following the completion of the acquisition, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.44% of the company’s stock.

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.