Ethos Financial Group LLC Takes Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Ethos Financial Group LLC acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 286,972 shares of the company’s stock, valued at approximately $2,941,000. Ethos Financial Group LLC owned about 0.17% of PureCycle Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in PCT. Sylebra Capital LLC raised its position in shares of PureCycle Technologies by 14.6% during the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after buying an additional 4,264,393 shares during the last quarter. Harvard Management Co. Inc. raised its position in shares of PureCycle Technologies by 249.7% during the third 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 last quarter. Simplify Asset Management Inc. raised its position in shares of PureCycle Technologies by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after buying an additional 713,664 shares during the last quarter. Appian Way Asset Management LP raised its position in shares of 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 valued at $53,905,000 after buying an additional 650,426 shares during the last quarter. Finally, Drive Wealth Management LLC raised its position in shares of PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after buying an additional 272,527 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Transactions at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the acquisition, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.44% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $9.29 on Thursday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -6.19 and a beta of 1.58. The company has a 50 day moving average of $9.64 and a 200-day moving average of $9.99. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last posted 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, equities analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PCT has been the subject of several recent research reports. Stifel Nicolaus increased their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. TD Cowen increased their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th.

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.