PureCycle Technologies, Inc. (NASDAQ:PCT) Position Reduced by Platform Technology Partners

Platform Technology Partners reduced its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 22.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 82,659 shares of the company’s stock after selling 24,620 shares during the quarter. Platform Technology Partners’ holdings in PureCycle Technologies were worth $847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its position in shares of PureCycle Technologies by 8.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 31,085 shares of the company’s stock valued at $319,000 after acquiring an additional 2,400 shares in the last quarter. Fourpath Capital Management LLC increased its stake in PureCycle Technologies by 49.4% during the fourth quarter. Fourpath Capital Management LLC now owns 23,061 shares of the company’s stock valued at $236,000 after purchasing an additional 7,625 shares during the last quarter. GFS Advisors LLC acquired a new stake in shares of PureCycle Technologies during the fourth quarter worth $206,000. Keudell Morrison Wealth Management bought a new position in shares of PureCycle Technologies in the 4th quarter worth about $117,000. Finally, Deane Retirement Strategies Inc. acquired a new position in shares of PureCycle Technologies in the 4th quarter valued at about $695,000. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PCT shares. Stifel Nicolaus increased their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th. Finally, TD Cowen raised their price target on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

PureCycle Technologies Trading Up 0.5 %

Shares of NASDAQ:PCT opened at $8.66 on Friday. 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’s 50-day moving average price is $10.53 and its 200 day moving average price is $9.61. The company has a market cap of $1.50 billion, a PE ratio of -5.77 and a beta of 1.58. PureCycle Technologies, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $15.58.

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.