Foster Victor Wealth Advisors LLC Has $268,000 Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Foster Victor Wealth Advisors LLC lessened its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 17.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,951 shares of the company’s stock after selling 6,000 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in PureCycle Technologies were worth $268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Algert Global LLC bought a new position in shares of PureCycle Technologies in the 2nd quarter worth $69,000. Park Edge Advisors LLC acquired a new position in PureCycle Technologies in the third quarter valued at about $100,000. Hsbc Holdings PLC boosted its holdings in PureCycle Technologies by 11.4% during the second 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. Fortis Group Advisors LLC grew its position in shares of PureCycle Technologies by 12.5% during the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after buying an additional 1,376 shares during the period. Finally, Prospera Private Wealth LLC increased its stake in shares of PureCycle Technologies by 35.9% in the 3rd quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock valued at $147,000 after acquiring an additional 4,080 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCT. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price objective on shares of PureCycle Technologies in a report on Tuesday, November 19th. Stifel Nicolaus boosted their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen raised their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th.

PureCycle Technologies Trading Down 4.0 %

Shares of PCT opened at $9.38 on Thursday. PureCycle Technologies, Inc. has a twelve month low of $3.75 and a twelve month high of $15.58. 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 firm’s 50 day moving average price is $11.08 and its two-hundred day moving average price is $9.50.

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.