Quest Partners LLC Buys Shares of 31,558 PureCycle Technologies, Inc. (NASDAQ:PCT)

Quest Partners LLC bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 31,558 shares of the company’s stock, valued at approximately $300,000.

Other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC purchased a new position in shares of PureCycle Technologies in the 2nd quarter worth $69,000. Tidal Investments LLC purchased a new position in shares of PureCycle Technologies in the 1st quarter worth $70,000. Bayesian Capital Management LP purchased a new position in shares of PureCycle Technologies in the 1st quarter worth $98,000. Park Edge Advisors LLC purchased a new position in shares of PureCycle Technologies in the 3rd quarter worth $100,000. Finally, Hsbc Holdings PLC boosted its stake in shares of PureCycle Technologies by 11.4% in 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 during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.09% of the company’s stock.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $12.92 on Tuesday. 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 business’s 50-day simple moving average is $10.97 and its two-hundred day simple moving average is $7.72. The stock has a market cap of $2.24 billion, a PE ratio of -8.61 and a beta of 1.56. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $15.58.

Wall Street Analyst Weigh In

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

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.