SG Americas Securities LLC Sells 14,075 Shares of PureCycle Technologies, Inc. (NYSE:PCT)

SG Americas Securities LLC reduced its stake in shares of PureCycle Technologies, Inc. (NYSE:PCT) by 44.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,555 shares of the company’s stock after selling 14,075 shares during the quarter. SG Americas Securities LLC’s holdings in PureCycle Technologies were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Abundance Wealth Counselors boosted its holdings in shares of PureCycle Technologies by 21.0% in the 1st quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock worth $42,185,000 after purchasing an additional 1,178,570 shares during the period. Gladstone Institutional Advisory LLC increased its position in PureCycle Technologies by 17.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,117,948 shares of the company’s stock valued at $8,578,000 after acquiring an additional 313,928 shares during the last quarter. SWS Partners raised its stake in shares of PureCycle Technologies by 40.9% in the fourth quarter. SWS Partners now owns 877,924 shares of the company’s stock valued at $3,556,000 after acquiring an additional 255,019 shares during the period. Sierra Summit Advisors LLC bought a new stake in shares of PureCycle Technologies in the 4th quarter worth about $964,000. Finally, Forum Financial Management LP boosted its stake in shares of PureCycle Technologies by 170.0% during the 4th quarter. Forum Financial Management LP now owns 270,000 shares of the company’s stock worth $1,094,000 after purchasing an additional 170,000 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus boosted their target price on PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Craig Hallum boosted their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, TD Cowen increased their target price on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.75.

PureCycle Technologies Stock Performance

Shares of NYSE:PCT opened at $5.97 on Tuesday. The firm’s 50 day simple moving average is $6.14 and its 200-day simple moving average is $5.67. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.67. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year high of $9.54. The firm has a market cap of $982.85 million, a PE ratio of -5.88 and a beta of 1.62.

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.