37,909 Shares in PureCycle Technologies, Inc. (NYSE:PCT) Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System bought a new position in PureCycle Technologies, Inc. (NYSE:PCTGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,909 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tyler Stone Wealth Management lifted its holdings in shares of PureCycle Technologies by 8,544.0% during the first quarter. Tyler Stone Wealth Management now owns 8,644 shares of the company’s stock worth $69,000 after buying an additional 8,544 shares during the last quarter. Amalgamated Bank acquired a new position in shares of PureCycle Technologies during the first quarter worth approximately $70,000. Envestnet Asset Management Inc. acquired a new position in shares of PureCycle Technologies during the first quarter worth approximately $81,000. Principal Financial Group Inc. acquired a new position in shares of PureCycle Technologies during the first quarter worth approximately $83,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of PureCycle Technologies during the second quarter worth approximately $112,000. 66.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus assumed coverage on PureCycle Technologies in a report on Thursday, September 15th. They set a “buy” rating and a $15.00 price target for the company. Cowen cut their price target on PureCycle Technologies from $15.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, November 11th.

PureCycle Technologies Stock Performance

PCT opened at $6.09 on Tuesday. The stock has a market cap of $995.75 million, a PE ratio of -9.81 and a beta of 0.87. The company has a current ratio of 7.01, a quick ratio of 7.01 and a debt-to-equity ratio of 0.45. PureCycle Technologies, Inc. has a 1 year low of $4.94 and a 1 year high of $14.45. The stock’s 50 day simple moving average is $8.20 and its 200-day simple moving average is $8.34.

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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