PureCycle Technologies, Inc. (NYSE:PCT) Shares Acquired by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. increased its holdings in shares of PureCycle Technologies, Inc. (NYSE:PCT) by 11.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,700 shares of the company’s stock after purchasing an additional 2,652 shares during the quarter. Sovereign Financial Group Inc.’s holdings in PureCycle Technologies were worth $108,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new position in shares of PureCycle Technologies during the 3rd quarter valued at $75,000. Cambridge Investment Research Advisors Inc. lifted its position in PureCycle Technologies by 9.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 147,612 shares of the company’s stock worth $828,000 after acquiring an additional 12,817 shares in the last quarter. Raymond James & Associates boosted its holdings in PureCycle Technologies by 12.2% in the 3rd quarter. Raymond James & Associates now owns 41,360 shares of the company’s stock worth $232,000 after acquiring an additional 4,500 shares during the period. Stratos Wealth Partners LTD. grew its position in PureCycle Technologies by 104.0% in the third quarter. Stratos Wealth Partners LTD. now owns 38,065 shares of the company’s stock valued at $214,000 after acquiring an additional 19,410 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of PureCycle Technologies by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 417,712 shares of the company’s stock worth $2,343,000 after purchasing an additional 11,966 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 5.0 %

PCT traded down $0.25 during trading hours on Wednesday, reaching $4.77. 2,236,176 shares of the stock traded hands, compared to its average volume of 2,507,529. PureCycle Technologies, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $11.89. The company has a market cap of $784.38 million, a price-to-earnings ratio of -7.03 and a beta of 1.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92. The firm’s fifty day simple moving average is $5.49 and its two-hundred day simple moving average is $4.61.

PureCycle Technologies (NYSE:PCT) last announced its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.08. As a group, analysts forecast that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fernando Musa bought 18,303 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $5.46 per share, for a total transaction of $99,934.38. Following the purchase, the director now owns 68,413 shares in the company, valued at approximately $373,534.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

PureCycle Technologies Company 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.