Nwam LLC Acquires New Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Nwam LLC acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,838 shares of the company’s stock, valued at approximately $179,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCT. Algert Global LLC purchased a new position in shares of PureCycle Technologies during the second quarter worth approximately $69,000. Tidal Investments LLC purchased a new position in PureCycle Technologies during the 1st quarter worth $70,000. Bayesian Capital Management LP bought a new stake in PureCycle Technologies during the 1st quarter valued at $98,000. Park Edge Advisors LLC purchased a new stake in shares of PureCycle Technologies in the 3rd quarter worth $100,000. Finally, Hsbc Holdings PLC grew its position in shares of PureCycle Technologies by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after buying an additional 1,910 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PCT shares. TD Cowen lifted their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price target on shares of PureCycle Technologies in a report on Tuesday, November 19th. Stifel Nicolaus increased their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum boosted their price objective on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.60.

PureCycle Technologies Stock Up 2.8 %

Shares of PureCycle Technologies stock opened at $13.28 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company has a market cap of $2.30 billion, a P/E ratio of -8.85 and a beta of 1.56. The firm’s 50 day moving average price is $10.97 and its 200-day moving average price is $7.72. PureCycle Technologies, Inc. has a 52-week low of $2.38 and a 52-week high of $15.58.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 14.81 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is owned by insiders.

PureCycle Technologies 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.