Biondo Investment Advisors LLC Increases Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Biondo Investment Advisors LLC increased its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 21.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,000 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Biondo Investment Advisors LLC’s holdings in PureCycle Technologies were worth $174,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Sylebra Capital LLC boosted its holdings in shares of 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 purchasing an additional 4,264,393 shares during the period. Harvard Management Co. Inc. lifted its holdings in PureCycle Technologies by 249.7% in the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock worth $23,733,000 after buying an additional 1,783,885 shares during the period. Vanguard Group Inc. lifted its holdings in PureCycle Technologies by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock worth $144,530,000 after buying an additional 758,382 shares during the period. Appian Way Asset Management LP grew its position in shares of PureCycle Technologies by 12.9% in the 3rd quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock worth $53,905,000 after buying an additional 650,426 shares during the last quarter. Finally, Ethos Financial Group LLC purchased a new position in shares of PureCycle Technologies during the fourth quarter valued at approximately $2,941,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $7.02 on Friday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -4.68 and a beta of 1.55. The stock has a fifty day moving average of $8.84 and a 200 day moving average of $10.20. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36.

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). As a group, research analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The shares were purchased at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the transaction, the insider now directly owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.09% of the company’s stock.

About PureCycle Technologies

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.