Capital Investment Advisors LLC Acquires 6,000 Shares of PureCycle Technologies, Inc. (NYSE:PCT)

Capital Investment Advisors LLC lifted its holdings in shares of PureCycle Technologies, Inc. (NYSE:PCTGet Rating) by 51.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,575 shares of the company’s stock after purchasing an additional 6,000 shares during the period. Capital Investment Advisors LLC’s holdings in PureCycle Technologies were worth $130,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. bought a new stake in shares of PureCycle Technologies during the 1st quarter worth $156,000. Howard Hughes Medical Institute raised its stake in shares of PureCycle Technologies by 35.7% during the 1st quarter. Howard Hughes Medical Institute now owns 1,628,570 shares of the company’s stock worth $13,029,000 after purchasing an additional 428,570 shares during the period. Samlyn Capital LLC raised its stake in PureCycle Technologies by 0.8% in 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 period. Cartenna Capital LP bought a new stake in PureCycle Technologies in the 4th quarter valued at about $1,196,000. Finally, Virginia Retirement Systems ET AL raised its stake in PureCycle Technologies by 22.5% in the 1st quarter. Virginia Retirement Systems ET AL now owns 27,800 shares of the company’s stock valued at $222,000 after acquiring an additional 5,100 shares during the period. 66.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, Director John Stewart Scott sold 92,000 shares of PureCycle Technologies stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $7.68, for a total transaction of $706,560.00. Following the completion of the transaction, the director now owns 1,435,709 shares of the company’s stock, valued at approximately $11,026,245.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 256,422 shares of company stock valued at $1,901,996 in the last quarter. 11.10% of the stock is currently owned by corporate insiders.

PureCycle Technologies Stock Down 5.4 %

PCT stock opened at $9.53 on Tuesday. The company has a quick ratio of 12.85, a current ratio of 12.85 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.56 billion, a PE ratio of -15.88 and a beta of 0.86. PureCycle Technologies, Inc. has a twelve month low of $4.94 and a twelve month high of $14.99. The stock has a 50-day simple moving average of $8.75 and a two-hundred day simple moving average of $8.47.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCT. Cowen lowered their price objective on PureCycle Technologies from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 15th. Stifel Nicolaus began coverage on PureCycle Technologies in a research note on Thursday, September 15th. They issued a “buy” rating and a $15.00 price objective on the stock.

PureCycle Technologies Profile

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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.

See Also

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

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