Invesco Ltd. Decreases Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Invesco Ltd. decreased its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 66.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,544 shares of the company’s stock after selling 428,013 shares during the quarter. Invesco Ltd. owned about 0.12% of PureCycle Technologies worth $2,199,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of PureCycle Technologies by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock valued at $144,530,000 after buying an additional 758,382 shares during the period. Ethos Financial Group LLC purchased a new position in PureCycle Technologies in the fourth quarter valued at about $2,941,000. Drive Wealth Management LLC grew its stake in PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after purchasing an additional 272,527 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in PureCycle Technologies in the fourth quarter worth about $1,415,000. Finally, Gladstone Institutional Advisory LLC boosted its holdings in PureCycle Technologies by 3.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company’s stock worth $35,492,000 after acquiring an additional 122,700 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The shares were acquired at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.67% of the stock is currently owned by company insiders.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $6.95 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The company has a market cap of $1.25 billion, a PE ratio of -4.63 and a beta of 1.68. The business has a 50-day simple moving average of $7.49 and a two-hundred day simple moving average of $9.80. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). As a group, equities analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS 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.