Wells Fargo & Company MN Has $1.94 Million Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Wells Fargo & Company MN trimmed its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,672 shares of the company’s stock after selling 10,649 shares during the period. Wells Fargo & Company MN’s holdings in PureCycle Technologies were worth $1,944,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PCT. Jones Financial Companies Lllp lifted its stake in PureCycle Technologies by 286.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after acquiring an additional 2,291 shares in the last quarter. US Bancorp DE raised its position in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after purchasing an additional 2,019 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of PureCycle Technologies in the fourth quarter valued at approximately $80,000. Keudell Morrison Wealth Management bought a new position in PureCycle Technologies during the 4th quarter worth $117,000. Finally, Cibc World Markets Corp acquired a new stake in PureCycle Technologies in the 4th quarter worth about $118,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Trading Down 1.6 %

Shares of NASDAQ:PCT opened at $6.74 on Friday. The company has a market capitalization of $1.21 billion, a P/E ratio of -4.49 and a beta of 1.68. The business’s 50 day simple moving average is $7.56 and its 200 day simple moving average is $9.81. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings data 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, research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the acquisition, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.67% 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.