Sylebra Capital LLC Has $317.85 Million Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Sylebra Capital LLC grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,457,649 shares of the company’s stock after purchasing an additional 4,264,393 shares during the quarter. PureCycle Technologies makes up approximately 10.5% of Sylebra Capital LLC’s portfolio, making the stock its 3rd largest holding. Sylebra Capital LLC owned 0.20% of PureCycle Technologies worth $317,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Park Edge Advisors LLC acquired a new stake in PureCycle Technologies in the 3rd quarter valued at approximately $100,000. Tidal Investments LLC bought a new position in PureCycle Technologies during the first quarter worth $70,000. Algert Global LLC bought a new stake in PureCycle Technologies in the 2nd quarter valued at $69,000. Fortis Group Advisors LLC lifted its stake in shares of PureCycle Technologies by 12.5% in the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock valued at $117,000 after buying an additional 1,376 shares during the period. Finally, Prospera Private Wealth LLC increased its stake in PureCycle Technologies by 35.9% during the third quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock valued at $147,000 after acquiring an additional 4,080 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $12.75 on Tuesday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -8.50 and a beta of 1.53. The business’s fifty day moving average price is $11.76 and its two-hundred day moving average price is $8.27. PureCycle Technologies, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

Analysts Set New Price Targets

A number of analysts have commented on PCT shares. Stifel Nicolaus raised their price objective on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. TD Cowen lifted their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, PureCycle Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $10.60.

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 14.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is 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.