Raymond James & Associates Buys 19,458 Shares of PureCycle Technologies, Inc. (NYSE:PCT)

Raymond James & Associates increased its position in shares of PureCycle Technologies, Inc. (NYSE:PCT) by 47.0% during the 4th quarter, Holdings Channel reports. The firm owned 60,818 shares of the company’s stock after acquiring an additional 19,458 shares during the period. Raymond James & Associates’ holdings in PureCycle Technologies were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sylebra Capital LLC purchased a new stake in PureCycle Technologies in the 3rd quarter worth $163,774,000. HighTower Advisors LLC grew its holdings in PureCycle Technologies by 158.0% during the 3rd quarter. HighTower Advisors LLC now owns 205,418 shares of the company’s stock valued at $1,158,000 after buying an additional 125,801 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of PureCycle Technologies by 63.4% during 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. SWS Partners lifted its position in shares of PureCycle Technologies by 21.2% in the third quarter. SWS Partners now owns 622,905 shares of the company’s stock worth $3,494,000 after buying an additional 108,837 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of PureCycle Technologies during the 3rd quarter worth approximately $85,000. 63.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, Director Fernando Musa purchased 18,303 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the completion of the purchase, the director now owns 68,413 shares in the company, valued at approximately $373,534.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.09% of the company’s stock.

PureCycle Technologies Price Performance

Shares of PCT opened at $4.96 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92. The company has a 50 day moving average price of $5.56 and a 200-day moving average price of $4.60. PureCycle Technologies, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $11.89. The stock has a market capitalization of $815.62 million, a PE ratio of -7.52 and a beta of 1.51.

PureCycle Technologies (NYSE:PCT) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. Equities analysts predict that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current fiscal year.

PureCycle Technologies Company 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.