Haven Private LLC Acquires Shares of 37,795 PureCycle Technologies, Inc. (NASDAQ:PCT)

Haven Private LLC bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 37,795 shares of the company’s stock, valued at approximately $387,000.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock worth $32,000 after purchasing an additional 2,291 shares in the last quarter. US Bancorp DE boosted its position in shares of PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after purchasing an additional 2,019 shares in the last quarter. Keudell Morrison Wealth Management purchased a new stake in shares of PureCycle Technologies in the 4th quarter worth about $117,000. Proficio Capital Partners LLC purchased a new stake in shares of PureCycle Technologies in the 4th quarter worth about $127,000. Finally, Truist Financial Corp purchased a new stake in shares of PureCycle Technologies in the 4th quarter worth about $145,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. The trade was a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.44% of the stock is owned by insiders.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $9.13 on Friday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -6.09 and a beta of 1.55. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The company’s 50-day moving average is $9.60 and its two-hundred day moving average is $9.98. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). Research analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on PCT. Stifel Nicolaus boosted their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, TD Cowen boosted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th.

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.