Cibc World Markets Corp Takes Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Cibc World Markets Corp bought a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,537 shares of the company’s stock, valued at approximately $118,000.

Several other institutional investors also recently modified their holdings of the business. Sylebra Capital LLC increased its position in PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after buying an additional 4,264,393 shares in the last quarter. Harvard Management Co. Inc. raised its position in shares of 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 purchasing an additional 1,783,885 shares during the last quarter. Appian Way Asset Management LP raised 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 purchasing an additional 650,426 shares during the last quarter. Ethos Financial Group LLC bought a new position in PureCycle Technologies in the 4th quarter worth about $2,941,000. Finally, Drive Wealth Management LLC grew its position in PureCycle Technologies by 767.7% during the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after purchasing an additional 272,527 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Insider Transactions at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were purchased at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. The trade was a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.09% of the company’s stock.

PureCycle Technologies Stock Down 1.9 %

Shares of PureCycle Technologies stock opened at $7.38 on Friday. The company has a 50-day simple moving average of $8.89 and a two-hundred day simple moving average of $10.18. The stock has a market capitalization of $1.32 billion, a PE ratio of -4.92 and a beta of 1.55. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.