Platform Technology Partners Has $1.02 Million Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Platform Technology Partners decreased its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 107,279 shares of the company’s stock after selling 5,136 shares during the period. Platform Technology Partners’ holdings in PureCycle Technologies were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC bought a new position in shares of PureCycle Technologies during the second quarter worth approximately $69,000. Tidal Investments LLC acquired a new stake in PureCycle Technologies during the first quarter worth approximately $70,000. Bayesian Capital Management LP bought a new position in PureCycle Technologies during the 1st quarter worth $98,000. Park Edge Advisors LLC acquired a new position in PureCycle Technologies in the 3rd quarter valued at $100,000. Finally, Hsbc Holdings PLC lifted its position in shares of PureCycle Technologies by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after acquiring an additional 1,910 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PCT shares. Cantor Fitzgerald began coverage on PureCycle Technologies in a research report on Friday, October 18th. They issued an “overweight” rating and a $14.00 price target on the stock. Stifel Nicolaus raised their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, August 12th. Craig Hallum upped their price target on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, TD Cowen lifted their price objective on shares of PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.20.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $12.91 on Tuesday. The stock has a market cap of $2.13 billion, a PE ratio of -13.44 and a beta of 1.56. 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 1.06, a quick ratio of 0.54 and a current ratio of 0.67. The firm’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $7.23.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction on Friday, September 13th. The shares were purchased 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 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.44% of the company’s stock.

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.