PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 767.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 308,027 shares of the company’s stock after buying an additional 272,527 shares during the period. PureCycle Technologies makes up approximately 0.8% of Drive Wealth Management LLC’s holdings, making the stock its 24th largest position. Drive Wealth Management LLC owned approximately 0.18% of PureCycle Technologies worth $3,157,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PCT. FMR LLC lifted its holdings in shares of PureCycle Technologies by 0.5% during the 3rd quarter. FMR LLC now owns 230,755 shares of the company’s stock valued at $2,192,000 after acquiring an additional 1,083 shares in the last quarter. Fortis Group Advisors LLC lifted its holdings in PureCycle Technologies by 12.5% in the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after buying an additional 1,376 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in PureCycle Technologies by 11.4% in the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after buying an additional 1,910 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in PureCycle Technologies by 6.3% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 33,951 shares of the company’s stock worth $310,000 after buying an additional 2,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in PureCycle Technologies by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,359 shares of the company’s stock worth $286,000 after buying an additional 3,405 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

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

PureCycle Technologies Stock Performance

PCT opened at $9.77 on Monday. The company has a 50-day moving average of $11.21 and a 200-day moving average of $9.44. PureCycle Technologies, Inc. has a 1-year low of $3.13 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.

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.