Tidal Investments LLC Purchases 25,424 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Tidal Investments LLC lifted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 215.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,223 shares of the company’s stock after acquiring an additional 25,424 shares during the quarter. Tidal Investments LLC’s holdings in PureCycle Technologies were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of PureCycle Technologies by 12.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,521 shares of the company’s stock valued at $222,000 after purchasing an additional 4,191 shares in the last quarter. Bank of New York Mellon Corp boosted its position in PureCycle Technologies by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 448,088 shares of the company’s stock worth $2,653,000 after buying an additional 61,158 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in PureCycle Technologies by 1.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company’s stock worth $1,087,000 after acquiring an additional 2,083 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in PureCycle Technologies by 7.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock valued at $159,000 after acquiring an additional 1,850 shares during the period. Finally, Van ECK Associates Corp bought a new position in shares of PureCycle Technologies during the second quarter valued at $3,121,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

PCT stock opened at $10.62 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company’s fifty day simple moving average is $12.20 and its 200 day simple moving average is $8.67. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $15.58. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -7.08 and a beta of 1.53.

Analyst Upgrades and Downgrades

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

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.