PureCycle Technologies, Inc. (NYSE:PCT – Get Free Report) major shareholder Sylebra Capital Llc purchased 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
PureCycle Technologies Trading Down 1.6 %
PCT opened at $8.76 on Wednesday. PureCycle Technologies, Inc. has a twelve month low of $2.38 and a twelve month high of $9.55. The company has a fifty day moving average of $6.34 and a 200-day moving average of $5.79. The stock has a market cap of $1.45 billion, a PE ratio of -8.59 and a beta of 1.60. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06.
PureCycle Technologies (NYSE:PCT – Get Free Report) last issued its quarterly earnings results 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). On average, sell-side analysts predict that PureCycle Technologies, Inc. will post -0.87 EPS for the current year.
Analysts Set New Price Targets
View Our Latest Analysis on PCT
Institutional Investors Weigh In On PureCycle Technologies
A number of hedge funds have recently added to or reduced their stakes in the business. 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 in the last quarter. National Bank of Canada FI increased its position in PureCycle Technologies by 45.8% in the 4th quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock valued at $52,000 after buying an additional 4,388 shares in the last quarter. Fortis Group Advisors LLC acquired a new position in PureCycle Technologies during the 1st quarter worth approximately $67,000. Victory Capital Management Inc. boosted its holdings in PureCycle Technologies by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock worth $69,000 after acquiring an additional 3,128 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in PureCycle Technologies in the second quarter valued at approximately $69,000. 63.01% of the stock is currently owned by institutional investors.
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.
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