VitalStone Financial LLC Increases Stake in PureCycle Technologies, Inc. (NYSE:PCT)

VitalStone Financial LLC increased its position in shares of PureCycle Technologies, Inc. (NYSE:PCT) by 16.9% in the third quarter, Holdings Channel.com reports. The firm owned 77,027 shares of the company’s stock after purchasing an additional 11,145 shares during the quarter. VitalStone Financial LLC’s holdings in PureCycle Technologies were worth $732,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PCT. Longview Asset Management LLC bought a new position in shares of PureCycle Technologies in the second quarter worth about $57,521,000. Abundance Wealth Counselors boosted its position in PureCycle Technologies by 21.0% in the 1st quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock valued at $42,185,000 after buying an additional 1,178,570 shares during the period. Van ECK Associates Corp bought a new position in PureCycle Technologies in the 2nd quarter worth about $3,121,000. Sanctuary Advisors LLC purchased a new position in shares of PureCycle Technologies during the second quarter worth approximately $689,000. Finally, Long Focus Capital Management LLC raised its stake in shares of PureCycle Technologies by 3.2% during the second quarter. Long Focus Capital Management LLC now owns 2,403,781 shares of the company’s stock valued at $14,230,000 after acquiring an additional 75,000 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PCT. TD Cowen raised their price target on PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus increased their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Craig Hallum boosted their price target on shares of PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.75.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock opened at $9.74 on Monday. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year high of $10.68. The company has a market capitalization of $1.61 billion, a PE ratio of -9.79 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.67. The company has a 50-day simple moving average of $7.29 and a two-hundred day simple moving average of $6.26.

PureCycle Technologies (NYSE:PCT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). Research analysts expect that PureCycle Technologies, Inc. will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.44% of the stock is currently owned by insiders.

About PureCycle Technologies

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.