Jones Financial Companies Lllp Acquires 2,291 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Jones Financial Companies Lllp grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 286.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,092 shares of the company’s stock after purchasing an additional 2,291 shares during the quarter. Jones Financial Companies Lllp’s holdings in PureCycle Technologies were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PCT. Sylebra Capital LLC grew its holdings in PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after purchasing an additional 4,264,393 shares during the last quarter. Harvard Management Co. Inc. grew its holdings in PureCycle Technologies by 249.7% in the third quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock worth $23,733,000 after purchasing an additional 1,783,885 shares during the last quarter. Appian Way Asset Management LP grew its holdings in PureCycle Technologies by 12.9% in the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock worth $53,905,000 after purchasing an additional 650,426 shares during the last quarter. Drive Wealth Management LLC grew its holdings in PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after purchasing an additional 272,527 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in PureCycle Technologies by 3.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company’s stock worth $35,492,000 after purchasing an additional 122,700 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lifted their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.44% of the company’s stock.

PureCycle Technologies Price Performance

Shares of PCT opened at $8.01 on Thursday. The firm has a market capitalization of $1.44 billion, a PE ratio of -5.34 and a beta of 1.55. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The company’s fifty day moving average price is $9.12 and its 200-day moving average price is $10.12.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). On average, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

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.