Sylebra Capital Llc Purchases 619,925 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) Stock

PureCycle Technologies, Inc. (NASDAQ:PCT) major shareholder Sylebra Capital Llc purchased 619,925 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

PureCycle Technologies Trading Up 3.3 %

PCT opened at $8.76 on Wednesday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -5.84 and a beta of 1.58. The company’s 50 day simple moving average is $10.32 and its two-hundred day simple moving average is $9.66. PureCycle Technologies, Inc. has a 1-year low of $4.25 and a 1-year high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PCT. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Stifel Nicolaus boosted their price objective on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen raised their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th.

Hedge Funds Weigh In On PureCycle Technologies

A number of institutional investors have recently added to or reduced their stakes in PCT. Jones Financial Companies Lllp increased its stake in shares of PureCycle Technologies by 286.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock worth $32,000 after acquiring an additional 2,291 shares during the last quarter. US Bancorp DE raised its stake in PureCycle Technologies by 141.5% during the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after purchasing an additional 2,019 shares during the period. Park Edge Advisors LLC purchased a new stake in shares of PureCycle Technologies in the 3rd quarter valued at approximately $100,000. Fortis Group Advisors LLC raised its position in shares of PureCycle Technologies by 12.5% during the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock valued at $117,000 after buying an additional 1,376 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new position in PureCycle Technologies in the fourth quarter valued at approximately $117,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Company Profile

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.