DRW Securities LLC Purchases 26,000 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

DRW Securities LLC lifted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 100.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,000 shares of the company’s stock after buying an additional 26,000 shares during the period. DRW Securities LLC’s holdings in PureCycle Technologies were worth $494,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Verus Capital Partners LLC grew its stake in shares of PureCycle Technologies by 465.8% during the third quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after buying an additional 105,000 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in PureCycle Technologies during the 2nd quarter worth approximately $311,000. Abundance Wealth Counselors increased its stake in PureCycle Technologies by 6.0% in the 2nd quarter. Abundance Wealth Counselors now owns 7,189,490 shares of the company’s stock worth $42,562,000 after purchasing an additional 407,353 shares during the period. Simplify Asset Management Inc. lifted its position in PureCycle Technologies by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after purchasing an additional 713,664 shares during the last quarter. Finally, Longview Asset Management LLC purchased a new stake in shares of PureCycle Technologies during the second quarter valued at approximately $57,521,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Up 2.8 %

Shares of PureCycle Technologies stock opened at $13.28 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $15.58. The company’s fifty day simple moving average is $10.97 and its two-hundred day simple moving average is $7.72.

Analyst Ratings Changes

PCT has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th. 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. TD Cowen increased their target price on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their target price on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.60.

Insider Activity

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.09% of the company’s stock.

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.