PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Sold by Platform Technology Partners

Platform Technology Partners lessened its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,659 shares of the company’s stock after selling 24,620 shares during the period. Platform Technology Partners’ holdings in PureCycle Technologies were worth $847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sylebra Capital LLC grew its holdings in shares of PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after purchasing an additional 4,264,393 shares during the period. Verus Capital Partners LLC grew its stake in PureCycle Technologies by 465.8% during the third quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock worth $1,212,000 after buying an additional 105,000 shares during the period. IHT Wealth Management LLC acquired a new stake in shares of PureCycle Technologies in the third quarter worth $485,000. Drive Wealth Management LLC increased its position in shares of PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after acquiring an additional 272,527 shares in the last quarter. Finally, Simplify Asset Management Inc. raised its stake in shares of PureCycle Technologies by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after acquiring an additional 713,664 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $8.66 on Friday. PureCycle Technologies, Inc. has a 1-year low of $4.25 and a 1-year high of $15.58. The stock has a market cap of $1.50 billion, a P/E ratio of -5.77 and a beta of 1.58. 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 50-day moving average of $10.53 and a two-hundred day moving average of $9.61.

Analyst Upgrades and Downgrades

Several research analysts have commented on PCT shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Stifel Nicolaus raised their target price on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen upped their price target on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

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.