PureCycle Technologies, Inc. (NYSE:PCT) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its position in shares of PureCycle Technologies, Inc. (NYSE:PCTGet Rating) by 11.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,827 shares of the company’s stock after purchasing an additional 2,429 shares during the period. Wolverine Asset Management LLC’s holdings in PureCycle Technologies were worth $182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCT. Envestnet Asset Management Inc. purchased a new position in shares of PureCycle Technologies during the first quarter worth about $81,000. Capital Investment Advisors LLC purchased a new position in shares of PureCycle Technologies during the first quarter worth about $93,000. ProShare Advisors LLC purchased a new position in shares of PureCycle Technologies during the fourth quarter worth about $112,000. Dynamic Advisor Solutions LLC purchased a new position in shares of PureCycle Technologies during the first quarter worth about $94,000. Finally, Belvedere Trading LLC purchased a new position in shares of PureCycle Technologies during the first quarter worth about $107,000. Institutional investors and hedge funds own 40.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Oppenheimer reissued a “buy” rating and set a $16.00 price target on shares of PureCycle Technologies in a report on Thursday, April 14th.

PureCycle Technologies Price Performance

Shares of PCT opened at $8.04 on Wednesday. PureCycle Technologies, Inc. has a twelve month low of $4.94 and a twelve month high of $17.13. The stock’s 50 day moving average is $7.91 and its two-hundred day moving average is $7.67. The firm has a market capitalization of $1.31 billion, a PE ratio of -12.56 and a beta of 1.06. The company has a current ratio of 19.10, a quick ratio of 19.10 and a debt-to-equity ratio of 0.41.

PureCycle Technologies (NYSE:PCTGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). During the same quarter in the prior year, the firm earned ($0.32) earnings per share. Research analysts anticipate that PureCycle Technologies, Inc. will post -0.65 earnings per share for the current year.

Insider Buying and Selling at PureCycle Technologies

In other news, Director John Stewart Scott sold 23,955 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $7.18, for a total transaction of $171,996.90. Following the sale, the director now owns 1,343,709 shares of the company’s stock, valued at approximately $9,647,830.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 333,993 shares of company stock valued at $2,570,658. 11.10% of the stock is owned by corporate insiders.

PureCycle Technologies Profile

(Get Rating)

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.

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Institutional Ownership by Quarter for PureCycle Technologies (NYSE:PCT)

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