PureCycle Technologies, Inc. (NYSE:PCT) Director Fernando Musa Acquires 25,779 Shares of Stock

PureCycle Technologies, Inc. (NYSE:PCT) Director Fernando Musa bought 25,779 shares of PureCycle Technologies stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average price of $3.88 per share, for a total transaction of $100,022.52. Following the acquisition, the director now directly owns 48,413 shares of the company’s stock, valued at approximately $187,842.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PureCycle Technologies Price Performance

Shares of NYSE PCT opened at $3.97 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.95 and a quick ratio of 4.95. PureCycle Technologies, Inc. has a 1-year low of $3.05 and a 1-year high of $11.89. The company has a market capitalization of $651.05 million, a price-to-earnings ratio of -7.52 and a beta of 1.53. The business has a 50-day moving average of $5.29 and a 200-day moving average of $7.77.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCT shares. Oppenheimer cut PureCycle Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, November 9th. Roth Mkm reiterated a “buy” rating and set a $12.50 price objective on shares of PureCycle Technologies in a research note on Thursday, September 14th. Finally, Stifel Nicolaus dropped their price objective on shares of PureCycle Technologies from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, November 10th.

Hedge Funds Weigh In On PureCycle Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. raised its stake in shares of PureCycle Technologies by 25.9% during the first quarter. Stratos Wealth Partners LTD. now owns 31,179 shares of the company’s stock valued at $218,000 after purchasing an additional 6,414 shares during the period. Wealth Effects LLC grew its holdings in PureCycle Technologies by 17.6% during the 1st quarter. Wealth Effects LLC now owns 56,500 shares of the company’s stock valued at $396,000 after purchasing an additional 8,458 shares in the last quarter. Tributary Capital Management LLC increased its stake in PureCycle Technologies by 59.3% during the 2nd quarter. Tributary Capital Management LLC now owns 32,231 shares of the company’s stock worth $345,000 after buying an additional 12,000 shares during the period. Perpetual Ltd acquired a new position in PureCycle Technologies in the 2nd quarter worth $1,069,000. Finally, Raymond James & Associates lifted its holdings in PureCycle Technologies by 79.9% in the 2nd quarter. Raymond James & Associates now owns 36,860 shares of the company’s stock worth $394,000 after buying an additional 16,376 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

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. PureCycle Technologies, Inc was founded in 2015 and is headquartered in Orlando, Florida.