Gladstone Institutional Advisory LLC Raises Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Gladstone Institutional Advisory LLC grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,462,652 shares of the company’s stock after buying an additional 122,700 shares during the period. PureCycle Technologies accounts for approximately 1.6% of Gladstone Institutional Advisory LLC’s investment portfolio, making the stock its 11th largest position. Gladstone Institutional Advisory LLC owned 1.99% of PureCycle Technologies worth $35,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sylebra Capital LLC increased its position in shares of PureCycle Technologies by 14.6% during the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after acquiring an additional 4,264,393 shares during the last quarter. Appian Way Asset Management LP increased its holdings in PureCycle Technologies by 12.9% in the 3rd quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after purchasing an additional 650,426 shares during the last quarter. Geode Capital Management LLC raised its position in PureCycle Technologies by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company’s stock valued at $29,688,000 after purchasing an additional 92,469 shares during the period. State Street Corp lifted its stake in PureCycle Technologies by 0.8% during the third quarter. State Street Corp now owns 2,809,178 shares of the company’s stock worth $26,687,000 after purchasing an additional 21,706 shares in the last quarter. Finally, Harvard Management Co. Inc. boosted its position in shares of PureCycle Technologies by 249.7% during the third quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock worth $23,733,000 after buying an additional 1,783,885 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th. Stifel Nicolaus boosted their price target on shares of 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 price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $8.76 on Wednesday. The company has a fifty day moving average of $10.32 and a two-hundred day moving average of $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 quick ratio of 1.63 and a current ratio of 1.74.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the purchase, the insider now 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.44% 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.