Tributary Capital Management LLC Increases Position in PureCycle Technologies, Inc. (NYSE:PCT)

Tributary Capital Management LLC grew its holdings in PureCycle Technologies, Inc. (NYSE:PCTFree Report) by 10.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 51,231 shares of the company’s stock after buying an additional 5,000 shares during the period. Tributary Capital Management LLC’s holdings in PureCycle Technologies were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PCT. Tower Research Capital LLC TRC raised its holdings in PureCycle Technologies by 173.8% during the third quarter. Tower Research Capital LLC TRC now owns 9,634 shares of the company’s stock worth $54,000 after purchasing an additional 6,115 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in PureCycle Technologies during the third quarter worth about $56,000. Monashee Investment Management LLC purchased a new position in PureCycle Technologies during the third quarter worth about $66,000. Commonwealth Equity Services LLC purchased a new position in PureCycle Technologies during the third quarter worth about $75,000. Finally, Sei Investments Co. purchased a new position in PureCycle Technologies during the first quarter worth about $76,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PureCycle Technologies

In related news, Director Fernando Musa purchased 18,303 shares of PureCycle Technologies stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $5.46 per share, with a total value of $99,934.38. Following the purchase, the director now owns 68,413 shares in the company, valued at approximately $373,534.98. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 11.44% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $5.96 on Monday. The company’s fifty day simple moving average is $4.81 and its 200-day simple moving average is $4.72. The company has a market cap of $979.47 million, a PE ratio of -9.20 and a beta of 1.51. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $11.89. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.21.

PureCycle Technologies (NYSE:PCTGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. As a group, equities research analysts anticipate that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCT. Roth Mkm cut shares of PureCycle Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $6.00 to $3.00 in a report on Tuesday, December 19th. Roth Capital lowered shares of PureCycle Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 19th. Finally, Craig Hallum lowered shares of PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.75.

Check Out Our Latest Stock Analysis on PCT

About PureCycle Technologies

(Free Report)

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.

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

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