PureCycle Technologies, Inc. (NYSE:PCT) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in PureCycle Technologies, Inc. (NYSE:PCT) by 16.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 29,798 shares of the company’s stock after acquiring an additional 4,167 shares during the period. Arizona State Retirement System’s holdings in PureCycle Technologies were worth $121,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PCT. Sylebra Capital LLC acquired a new position in PureCycle Technologies in the third quarter valued at $163,774,000. Abundance Wealth Counselors increased its stake in shares of PureCycle Technologies by 0.6% during the 4th quarter. Abundance Wealth Counselors now owns 5,603,567 shares of the company’s stock valued at $22,694,000 after acquiring an additional 33,621 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PureCycle Technologies by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 992,377 shares of the company’s stock worth $5,567,000 after acquiring an additional 39,094 shares during the period. SWS Partners lifted its holdings in shares of PureCycle Technologies by 21.2% during the 3rd quarter. SWS Partners now owns 622,905 shares of the company’s stock worth $3,494,000 after acquiring an additional 108,837 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of PureCycle Technologies by 63.4% in the third quarter. Van ECK Associates Corp now owns 465,106 shares of the company’s stock worth $2,609,000 after acquiring an additional 180,525 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Craig Hallum lowered shares of PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.75.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $5.04 on Tuesday. The company has a market cap of $828.80 million, a price-to-earnings ratio of -7.64 and a beta of 1.51. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $11.89. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92. The stock’s 50-day moving average is $5.59 and its 200-day moving average is $4.61.

PureCycle Technologies (NYSE:PCT) last posted 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. Equities analysts anticipate that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current year.

Insider Activity

In other PureCycle Technologies news, Director Fernando Musa purchased 18,303 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $5.46 per share, with a total value of $99,934.38. Following the transaction, the director now owns 68,413 shares in the company, valued at $373,534.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.44% of the company’s stock.

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.