PureCycle Technologies, Inc. (NYSE:PCT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in PureCycle Technologies, Inc. (NYSE:PCT) by 44.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,555 shares of the company’s stock after selling 14,075 shares during the quarter. SG Americas Securities LLC’s holdings in PureCycle Technologies were worth $104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCT. VitalStone Financial LLC increased its stake in PureCycle Technologies by 163.9% in the fourth quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock valued at $38,000 after purchasing an additional 5,900 shares during the period. Fortis Group Advisors LLC purchased a new position in shares of PureCycle Technologies during the first quarter worth about $67,000. Tidal Investments LLC acquired a new position in PureCycle Technologies in the 1st quarter valued at about $70,000. National Bank of Canada FI raised its stake in PureCycle Technologies by 45.8% during the 4th quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock valued at $52,000 after acquiring an additional 4,388 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in PureCycle Technologies during the 1st quarter worth approximately $98,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PureCycle Technologies Stock Up 1.7 %

PCT opened at $5.97 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $9.54. The stock has a market capitalization of $982.85 million, a P/E ratio of -5.88 and a beta of 1.62. The business has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $5.67.

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.