23,900 Shares in PureCycle Technologies, Inc. (NYSE:PCT) Acquired by Violich Capital Management Inc.

Violich Capital Management Inc. purchased a new stake in shares of PureCycle Technologies, Inc. (NYSE:PCT) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 23,900 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds also recently modified their holdings of PCT. Ensign Peak Advisors Inc acquired a new stake in shares of PureCycle Technologies in the second quarter valued at $311,000. Abundance Wealth Counselors lifted its holdings in PureCycle Technologies by 6.0% in the 2nd quarter. Abundance Wealth Counselors now owns 7,189,490 shares of the company’s stock valued at $42,562,000 after acquiring an additional 407,353 shares during the last quarter. Longview Asset Management LLC acquired a new stake in PureCycle Technologies in the 2nd quarter valued at about $57,521,000. Marshall Wace LLP bought a new position in shares of PureCycle Technologies during the 2nd quarter valued at about $322,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of PureCycle Technologies in the 2nd quarter worth approximately $689,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Trading Up 7.0 %

NYSE PCT opened at $10.68 on Monday. The firm’s 50 day moving average price is $7.65 and its two-hundred day moving average price is $6.40. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.67. PureCycle Technologies, Inc. has a twelve month low of $2.38 and a twelve month high of $11.25. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -10.47 and a beta of 1.63.

PureCycle Technologies (NYSE:PCT) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Equities analysts anticipate that PureCycle Technologies, Inc. will post -0.85 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCT. Cantor Fitzgerald initiated coverage on shares of PureCycle Technologies in a research note on Friday. They set an “overweight” rating and a $14.00 target price for the company. Stifel Nicolaus increased their price objective on PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, August 12th. TD Cowen boosted their target price on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Craig Hallum upped their target price on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.20.

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.