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

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

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of PureCycle Technologies by 0.5% during the third quarter. FMR LLC now owns 230,755 shares of the company’s stock valued at $2,192,000 after buying an additional 1,083 shares during the last quarter. Fortis Group Advisors LLC raised 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 worth $117,000 after purchasing an additional 1,376 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of PureCycle Technologies by 7.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock valued at $159,000 after purchasing an additional 1,850 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of PureCycle Technologies by 11.4% during the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after buying an additional 1,910 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its position in PureCycle Technologies by 6.3% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 33,951 shares of the company’s stock worth $310,000 after buying an additional 2,000 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 firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -7.11 and a beta of 1.53. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The business has a fifty day moving average price of $12.15 and a 200-day moving average price of $8.58. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year high of $15.58.

Analyst Upgrades and Downgrades

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

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.