Abundance Wealth Counselors Has $27.67 Million Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Abundance Wealth Counselors reduced its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 49.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,699,687 shares of the company’s stock after selling 2,672,142 shares during the quarter. PureCycle Technologies makes up approximately 6.0% of Abundance Wealth Counselors’ investment portfolio, making the stock its 3rd biggest position. Abundance Wealth Counselors’ holdings in PureCycle Technologies were worth $27,672,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of PureCycle Technologies by 0.5% in the third quarter. FMR LLC now owns 230,755 shares of the company’s stock worth $2,192,000 after acquiring an additional 1,083 shares during the period. Fortis Group Advisors LLC boosted its stake in PureCycle Technologies by 12.5% in the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after purchasing an additional 1,376 shares during the period. Hsbc Holdings PLC grew its holdings in PureCycle Technologies by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after buying an additional 1,910 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its position in shares of PureCycle Technologies by 6.3% during the third quarter. Foster Victor Wealth Advisors LLC now owns 33,951 shares of the company’s stock valued at $310,000 after buying an additional 2,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of PureCycle Technologies by 7.6% during the second quarter. The Manufacturers Life Insurance Company now owns 48,359 shares of the company’s stock valued at $286,000 after buying an additional 3,405 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

PureCycle Technologies stock opened at $9.31 on Friday. The company’s 50-day moving average price is $10.98 and its 200-day moving average price is $9.52. 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, Inc. has a twelve month low of $3.75 and a twelve month high of $15.58.

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.