Bar Harbor Wealth Management Buys Shares of 15,000 PureCycle Technologies, Inc. (NASDAQ:PCT)

Bar Harbor Wealth Management purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,000 shares of the company’s stock, valued at approximately $154,000.

A number of other institutional investors have also modified their holdings of PCT. ORG Wealth Partners LLC increased its stake in PureCycle Technologies by 27.8% during the 4th quarter. ORG Wealth Partners LLC now owns 26,209 shares of the company’s stock worth $269,000 after buying an additional 5,697 shares during the period. Tidal Investments LLC grew its stake in shares of PureCycle Technologies by 215.5% in the third quarter. Tidal Investments LLC now owns 37,223 shares of the company’s stock worth $354,000 after acquiring an additional 25,424 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of PureCycle Technologies by 77.2% during the third quarter. Sanctuary Advisors LLC now owns 206,339 shares of the company’s stock worth $1,960,000 after acquiring an additional 89,875 shares during the period. Geode Capital Management LLC raised its stake in shares of PureCycle Technologies by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company’s stock valued at $29,688,000 after acquiring an additional 92,469 shares in the last quarter. Finally, Sylebra Capital LLC boosted its holdings in PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after purchasing an additional 4,264,393 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Stock Down 0.3 %

Shares of NASDAQ PCT opened at $9.67 on Tuesday. PureCycle Technologies, Inc. has a 1 year low of $2.56 and a 1 year high of $15.58. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -6.45 and a beta of 1.59. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The business has a 50-day moving average of $11.68 and a two-hundred day moving average of $9.18.

Analysts Set New Price Targets

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

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.