Almanack Investment Partners LLC. Sells 8,054 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Almanack Investment Partners LLC. lessened its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 286,972 shares of the company’s stock after selling 8,054 shares during the period. Almanack Investment Partners LLC.’s holdings in PureCycle Technologies were worth $2,941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of PureCycle Technologies in the 2nd quarter valued at about $322,000. The Manufacturers Life Insurance Company grew its holdings in PureCycle Technologies by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,359 shares of the company’s stock valued at $286,000 after buying an additional 3,405 shares in the last quarter. Algert Global LLC bought a new position in PureCycle Technologies during the second quarter worth about $69,000. Sanctuary Advisors LLC bought a new stake in shares of PureCycle Technologies during the 2nd quarter valued at $689,000. Finally, SG Americas Securities LLC lifted its stake in PureCycle Technologies by 154.5% during the third quarter. SG Americas Securities LLC now owns 44,680 shares of the company’s stock worth $424,000 after purchasing an additional 27,125 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $8.66 on Friday. PureCycle Technologies, Inc. has a 12-month low of $4.25 and a 12-month high of $15.58. 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 business’s 50 day moving average is $10.53 and its 200 day moving average is $9.61.

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.