Sylebra Capital Llc Acquires 4,264,393 Shares of PureCycle Technologies, Inc. (NYSE:PCT) Stock

PureCycle Technologies, Inc. (NYSE:PCT) major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

PureCycle Technologies Price Performance

NYSE:PCT traded up $0.18 during trading hours on Monday, hitting $9.00. 3,334,894 shares of the company were exchanged, compared to its average volume of 2,225,716. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year high of $9.55. The company has a fifty day simple moving average of $6.20 and a 200 day simple moving average of $5.75.

PureCycle Technologies (NYSE:PCT) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Equities research analysts expect that PureCycle Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCT. Patriot Financial Group Insurance Agency LLC raised its position in shares of PureCycle Technologies by 7.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock worth $159,000 after acquiring an additional 1,850 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of PureCycle Technologies by 11.4% in the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after acquiring an additional 1,910 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its position in shares of PureCycle Technologies by 6.7% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock worth $192,000 after acquiring an additional 2,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of PureCycle Technologies by 1.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company’s stock worth $1,087,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of PureCycle Technologies by 10.0% in the 2nd quarter. Arizona State Retirement System now owns 32,225 shares of the company’s stock worth $191,000 after acquiring an additional 2,918 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PCT shares. Craig Hallum raised their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. TD Cowen raised their price objective on PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus raised their price objective on PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, PureCycle Technologies has a consensus rating of “Hold” and an average price target of $6.75.

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.