ORG Wealth Partners LLC Purchases 5,697 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

ORG Wealth Partners LLC grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 27.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,209 shares of the company’s stock after buying an additional 5,697 shares during the quarter. ORG Wealth Partners LLC’s holdings in PureCycle Technologies were worth $269,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Algert Global LLC acquired a new stake in shares of PureCycle Technologies in the 2nd quarter valued at $69,000. Park Edge Advisors LLC acquired a new position in PureCycle Technologies during the third quarter worth about $100,000. Hsbc Holdings PLC lifted its holdings in shares of PureCycle Technologies by 11.4% in the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after acquiring an additional 1,910 shares during the last quarter. Fortis Group Advisors LLC boosted its stake in shares of PureCycle Technologies by 12.5% in the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock valued at $117,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Prospera Private Wealth LLC increased its position in PureCycle Technologies by 35.9% during the 3rd quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock worth $147,000 after purchasing an additional 4,080 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 4.1 %

PureCycle Technologies stock traded down $0.40 during mid-day trading on Friday, hitting $9.33. 1,240,254 shares of the stock were exchanged, compared to its average volume of 1,671,693. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month 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. The firm’s fifty day simple moving average is $11.80 and its two-hundred day simple moving average is $9.08. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.22 and a beta of 1.59.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PCT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. TD Cowen raised their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus lifted their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

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.