PureCycle Technologies, Inc. (NASDAQ:PCT) Major Shareholder Sylebra Capital Llc Acquires 619,925 Shares of Stock

PureCycle Technologies, Inc. (NASDAQ:PCT) major shareholder Sylebra Capital Llc bought 619,925 shares of the stock in a transaction on Thursday, February 6th. The shares were acquired at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

PureCycle Technologies Trading Down 2.1 %

PureCycle Technologies stock opened at $8.48 on Tuesday. The business’s 50-day simple moving average is $10.42 and its 200-day simple moving average is $9.65. PureCycle Technologies, Inc. has a 52 week low of $4.25 and a 52 week high of $15.58. The firm has a market capitalization of $1.47 billion, a PE ratio of -5.65 and a beta of 1.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

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

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.