Maridea Wealth Management LLC Invests $1.08 Million in PureCycle Technologies, Inc. (NASDAQ:PCT)

Maridea Wealth Management LLC acquired 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 acquired 105,352 shares of the company’s stock, valued at approximately $1,080,000. Maridea Wealth Management LLC owned about 0.06% of PureCycle Technologies at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PCT. Sylebra Capital LLC lifted its stake in shares of PureCycle Technologies by 14.6% in the 3rd 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 last quarter. Harvard Management Co. Inc. raised its holdings in PureCycle Technologies by 249.7% in the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after buying an additional 1,783,885 shares during the period. Vanguard Group Inc. boosted its stake in PureCycle Technologies by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock worth $144,530,000 after buying an additional 758,382 shares during the period. Appian Way Asset Management LP boosted its stake in PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock worth $53,905,000 after buying an additional 650,426 shares during the period. Finally, Ethos Financial Group LLC acquired a new stake in shares of PureCycle Technologies during the fourth quarter valued at about $2,941,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the transaction, the insider now owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.09% of the stock is currently owned by company insiders.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $7.02 on Friday. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year 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. The firm’s 50 day moving average price is $8.84 and its 200-day moving average price is $10.20. The firm has a market cap of $1.26 billion, a P/E ratio of -4.68 and a beta of 1.55.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.32). As a group, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

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.