Almanack Investment Partners LLC. Trims Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Almanack Investment Partners LLC. lowered its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,972 shares of the company’s stock after selling 8,054 shares during the period. Almanack Investment Partners LLC. owned 0.17% of PureCycle Technologies worth $2,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sylebra Capital LLC raised its holdings in shares of PureCycle Technologies by 14.6% in the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after purchasing an additional 4,264,393 shares during the period. Verus Capital Partners LLC raised its position in shares of PureCycle Technologies by 465.8% in the 3rd quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after purchasing an additional 105,000 shares in the last quarter. IHT Wealth Management LLC bought a new position in PureCycle Technologies during the 3rd quarter valued at $485,000. Drive Wealth Management LLC grew its stake in PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after purchasing an additional 272,527 shares in the last quarter. Finally, Simplify Asset Management Inc. increased its holdings in shares of PureCycle Technologies by 67.4% in 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

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

PureCycle Technologies Trading Up 0.5 %

Shares of PCT opened at $8.66 on Friday. 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’s fifty day moving average price is $10.53 and its 200 day moving average price is $9.61. PureCycle Technologies, Inc. has a one year low of $4.25 and a one year 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.