PureCycle Technologies, Inc. (NASDAQ:PCT) Stock Holdings Lowered by Centaurus Financial Inc.

Centaurus Financial Inc. trimmed its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 55.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,269 shares of the company’s stock after selling 28,561 shares during the quarter. Centaurus Financial Inc.’s holdings in PureCycle Technologies were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PCT. Fortis Group Advisors LLC lifted its stake in PureCycle Technologies by 12.5% during the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock valued at $117,000 after buying an additional 1,376 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of 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 in the last quarter. Hsbc Holdings PLC boosted its stake in PureCycle Technologies by 11.4% in the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after purchasing an additional 1,910 shares during the period. Foster Victor Wealth Advisors LLC grew its position in PureCycle Technologies by 6.7% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock worth $192,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake 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 valued at $1,087,000 after purchasing an additional 2,083 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of PureCycle Technologies stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 14.81 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCT has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th. TD Cowen increased their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Craig Hallum boosted their price objective on shares of PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $10.60.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $13.20 on Thursday. PureCycle Technologies, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $15.58. The stock’s 50-day moving average is $11.07 and its two-hundred day moving average is $7.77. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The firm has a market cap of $2.29 billion, a P/E ratio of -8.80 and a beta of 1.56.

PureCycle Technologies 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.