First National Advisers LLC Has $2.86 Million Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

First National Advisers LLC trimmed its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 278,584 shares of the company’s stock after selling 48,932 shares during the quarter. First National Advisers LLC’s holdings in PureCycle Technologies were worth $2,856,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Sylebra Capital LLC grew its holdings in PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after purchasing an additional 4,264,393 shares during the period. Appian Way Asset Management LP grew its holdings in shares of PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after buying an additional 650,426 shares during the last quarter. Gladstone Institutional Advisory LLC grew its holdings in shares of PureCycle Technologies by 3.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company’s stock valued at $35,492,000 after buying an additional 122,700 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PureCycle Technologies by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company’s stock valued at $29,688,000 after buying an additional 92,469 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of PureCycle Technologies by 0.8% during the third quarter. State Street Corp now owns 2,809,178 shares of the company’s stock valued at $26,687,000 after buying an additional 21,706 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The stock was purchased at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the transaction, the insider now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.44% of the stock is owned by insiders.

PureCycle Technologies Stock Up 6.5 %

PCT opened at $7.70 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The company’s 50-day moving average is $9.28 and its 200 day moving average is $10.09. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The firm has a market capitalization of $1.38 billion, a P/E ratio of -5.13 and a beta of 1.55.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). Research analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCT. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price objective on shares of PureCycle Technologies in a report on Tuesday, November 19th. TD Cowen lifted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th.

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.