Biondo Investment Advisors LLC Buys 3,000 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Biondo Investment Advisors LLC lifted its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,000 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Biondo Investment Advisors LLC’s holdings in PureCycle Technologies were worth $174,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PCT. Highview Capital Management LLC DE bought a new stake in shares of PureCycle Technologies during the fourth quarter valued at about $324,000. Sylebra Capital LLC increased 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 worth $317,848,000 after acquiring an additional 4,264,393 shares during the period. IHT Wealth Management LLC purchased a new stake in PureCycle Technologies in the 3rd quarter worth approximately $485,000. Drive Wealth Management LLC lifted its stake in PureCycle Technologies by 767.7% in 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 in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in PureCycle Technologies by 77.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 206,339 shares of the company’s stock valued at $1,960,000 after purchasing an additional 89,875 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 4.9 %

PureCycle Technologies stock opened at $7.02 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The stock has a market cap of $1.26 billion, a P/E ratio of -4.68 and a beta of 1.55. The firm’s fifty day moving average price is $8.84 and its 200-day moving average price is $10.20.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). Equities research analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Activity at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction that occurred on Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the purchase, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.09% of the stock is currently owned by insiders.

PureCycle Technologies 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.