Deane Retirement Strategies Inc. Acquires New Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Deane Retirement Strategies Inc. acquired a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 67,794 shares of the company’s stock, valued at approximately $695,000.

Other hedge funds also recently made changes to their positions in the company. Park Edge Advisors LLC purchased a new position in PureCycle Technologies during the third quarter worth about $100,000. Algert Global LLC acquired a new position in PureCycle Technologies during the 2nd quarter worth approximately $69,000. Fortis Group Advisors LLC raised its stake in shares of PureCycle Technologies by 12.5% during the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after buying an additional 1,376 shares in the last quarter. Bar Harbor Wealth Management acquired a new stake in shares of PureCycle Technologies in the 4th quarter valued at approximately $154,000. Finally, Prospera Private Wealth LLC boosted its stake in shares of PureCycle Technologies by 35.9% in the third quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock valued at $147,000 after buying an additional 4,080 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PCT. Stifel Nicolaus increased their price objective on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. TD Cowen increased their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated 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

NASDAQ:PCT opened at $9.77 on Wednesday. PureCycle Technologies, Inc. has a 52-week low of $3.66 and a 52-week 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 stock has a fifty day simple moving average of $11.13 and a 200-day simple moving average of $9.50.

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.