Arizona State Retirement System Purchases 1,326 Shares of PureCycle Technologies, Inc. (NYSE:PCT)

Arizona State Retirement System raised its position in shares of PureCycle Technologies, Inc. (NYSE:PCT – Get Rating) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,278 shares of the company’s stock after purchasing an additional 1,326 shares during the quarter. Arizona State Retirement System’s holdings in PureCycle Technologies were worth $162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PCT. Stratos Wealth Partners LTD. purchased a new stake in shares of PureCycle Technologies during the 1st quarter valued at about $156,000. Wolverine Asset Management LLC boosted its holdings in shares of PureCycle Technologies by 19.6% during the 4th quarter. Wolverine Asset Management LLC now owns 20,398 shares of the company’s stock valued at $195,000 after acquiring an additional 3,340 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of PureCycle Technologies during the 4th quarter valued at about $217,000. Samlyn Capital LLC boosted its holdings in shares of PureCycle Technologies by 0.8% during the 4th quarter. Samlyn Capital LLC now owns 3,667,203 shares of the company’s stock valued at $35,096,000 after acquiring an additional 28,864 shares during the last quarter. Finally, Cartenna Capital LP purchased a new stake in shares of PureCycle Technologies during the 4th quarter valued at about $1,196,000. 40.86% of the stock is currently owned by institutional investors.

PureCycle Technologies Stock Performance

PCT opened at $8.61 on Friday. The company has a current ratio of 19.10, a quick ratio of 19.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -13.45 and a beta of 1.06. The company’s 50 day moving average is $7.90 and its 200 day moving average is $7.68. PureCycle Technologies, Inc. has a 12-month low of $4.94 and a 12-month high of $17.13.

PureCycle Technologies (NYSE:PCT – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). During the same period in the prior year, the firm earned ($0.32) EPS. On average, equities research analysts predict that PureCycle Technologies, Inc. will post -0.65 EPS for the current year.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, Director John Stewart Scott sold 77,571 shares of PureCycle Technologies stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $8.62, for a total transaction of $668,662.02. Following the transaction, the director now owns 1,542,138 shares of the company’s stock, valued at $13,293,229.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 333,993 shares of company stock valued at $2,570,658 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About PureCycle Technologies

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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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