Forum Financial Management LP Has $308,000 Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Forum Financial Management LP reduced its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 90.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,000 shares of the company’s stock after selling 270,000 shares during the period. Forum Financial Management LP’s holdings in PureCycle Technologies were worth $308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of PureCycle Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 2,809,178 shares of the company’s stock worth $26,687,000 after purchasing an additional 21,706 shares during the last quarter. Geode Capital Management LLC boosted its position in PureCycle Technologies by 3.0% in 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 in the last quarter. Tidal Investments LLC grew its stake in PureCycle Technologies by 215.5% during the third quarter. Tidal Investments LLC now owns 37,223 shares of the company’s stock worth $354,000 after buying an additional 25,424 shares during the last quarter. ORG Wealth Partners LLC increased its holdings in shares of PureCycle Technologies by 27.8% during the fourth quarter. ORG Wealth Partners LLC now owns 26,209 shares of the company’s stock worth $269,000 after buying an additional 5,697 shares in the last quarter. Finally, Bar Harbor Wealth Management bought a new position in shares of PureCycle Technologies in the fourth quarter valued at approximately $154,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 7.0 %

Shares of PCT opened at $5.57 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 $999.32 million, a price-to-earnings ratio of -3.71 and a beta of 1.68. The stock has a fifty day moving average price of $7.80 and a two-hundred day moving average price of $9.89. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58.

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

Insider Activity

In other news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 21.67% of the stock is owned by insiders.

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.