PureCycle Technologies, Inc. (NYSE:PCT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its holdings in shares of PureCycle Technologies, Inc. (NYSE:PCT) by 36.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,842 shares of the company’s stock after selling 167,264 shares during the quarter. Van ECK Associates Corp’s holdings in PureCycle Technologies were worth $1,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RIA Advisory Group LLC acquired a new stake in PureCycle Technologies in the 4th quarter worth about $40,000. Integrated Advisors Network LLC purchased a new position in shares of PureCycle Technologies during the 3rd quarter worth about $56,000. Symphony Financial Ltd. Co. acquired a new stake in shares of PureCycle Technologies in the fourth quarter worth approximately $43,000. Monashee Investment Management LLC purchased a new stake in PureCycle Technologies in the third quarter valued at approximately $66,000. Finally, Stratos Wealth Advisors LLC acquired a new position in PureCycle Technologies during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, Director Fernando Musa bought 18,303 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.09% of the company’s stock.

PureCycle Technologies Stock Performance

NYSE:PCT opened at $4.88 on Friday. PureCycle Technologies, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $11.89. The firm’s 50 day moving average is $5.48 and its two-hundred day moving average is $4.61. The company has a market cap of $802.47 million, a P/E ratio of -7.23 and a beta of 1.60. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.21.

PureCycle Technologies (NYSE:PCT) last issued its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.08. Analysts expect that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

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.