Stifel Financial Corp Sells 162,917 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Stifel Financial Corp decreased its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 32.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 335,772 shares of the company’s stock after selling 162,917 shares during the quarter. Stifel Financial Corp owned 0.20% of PureCycle Technologies worth $3,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC acquired a new stake in shares of PureCycle Technologies in the 3rd quarter valued at approximately $485,000. Harvard Management Co. Inc. increased its stake 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 valued at $23,733,000 after purchasing an additional 1,783,885 shares in the last quarter. Appian Way Asset Management LP raised 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 period. FMR LLC boosted its position in shares of PureCycle Technologies by 0.5% during the third quarter. FMR LLC now owns 230,755 shares of the company’s stock worth $2,192,000 after purchasing an additional 1,083 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of PureCycle Technologies by 32.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 64,196 shares of the company’s stock valued at $610,000 after buying an additional 15,837 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 1.7 %

NASDAQ:PCT opened at $11.68 on Wednesday. The company has a market cap of $2.03 billion, a PE ratio of -7.79 and a beta of 1.53. The stock has a 50-day simple moving average of $12.11 and a 200 day simple moving average of $8.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. PureCycle Technologies, Inc. has a 52-week low of $2.38 and a 52-week high of $15.58.

Analyst Ratings Changes

A number of research analysts have issued reports on PCT shares. TD Cowen boosted their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Stifel Nicolaus boosted their price objective on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.60.

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.