Sanctuary Advisors LLC Acquires 89,875 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Sanctuary Advisors LLC boosted its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 77.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,339 shares of the company’s stock after purchasing an additional 89,875 shares during the period. Sanctuary Advisors LLC owned approximately 0.12% of PureCycle Technologies worth $1,960,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Longview Asset Management LLC bought a new position in PureCycle Technologies during the 2nd quarter worth approximately $57,521,000. Sylebra Capital LLC raised its holdings in PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after buying an additional 4,264,393 shares during the last quarter. Harvard Management Co. Inc. boosted its position in PureCycle Technologies by 249.7% during the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after buying an additional 1,783,885 shares during the period. Simplify Asset Management Inc. increased its position in shares of 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 acquiring an additional 713,664 shares during the period. Finally, Appian Way Asset Management LP raised its stake in shares of PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after acquiring an additional 650,426 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Trading Down 8.6 %

NASDAQ PCT opened at $10.67 on Thursday. The stock’s 50 day moving average is $12.15 and its 200 day moving average is $8.58. 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 firm has a market capitalization of $1.85 billion, a PE ratio of -7.11 and a beta of 1.53. PureCycle Technologies, Inc. has a twelve month low of $2.38 and a twelve month high of $15.58.

Analysts Set New Price Targets

A number of research firms have commented on PCT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Stifel Nicolaus lifted their price target on shares of 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 raised their target price 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.60.

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.