Sanders Morris Harris LLC Has $1.64 Million Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Sanders Morris Harris LLC lifted its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 159,673 shares of the company’s stock after purchasing an additional 6,979 shares during the period. Sanders Morris Harris LLC owned 0.09% of PureCycle Technologies worth $1,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sylebra Capital LLC increased its holdings in shares of PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after purchasing an additional 4,264,393 shares in the last quarter. Verus Capital Partners LLC raised its stake in shares of PureCycle Technologies by 465.8% during the third quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock worth $1,212,000 after buying an additional 105,000 shares during the last quarter. IHT Wealth Management LLC acquired a new position in PureCycle Technologies in the third quarter valued at approximately $485,000. Ensign Peak Advisors Inc bought a new position in PureCycle Technologies in the second quarter valued at approximately $311,000. Finally, Simplify Asset Management Inc. raised its position in shares of PureCycle Technologies by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after acquiring an additional 713,664 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock opened at $9.64 on Thursday. The stock’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $9.20. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.67 billion, a PE ratio of -6.43 and a beta of 1.59. PureCycle Technologies, Inc. has a 12 month low of $2.78 and a 12 month high of $15.58.

PureCycle Technologies 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.