PureCycle Technologies, Inc. (NASDAQ:PCT) Stock Position Cut by Appian Way Asset Management LP

Appian Way Asset Management LP lowered its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,865,682 shares of the company's stock after selling 808,486 shares during the quarter. PureCycle Technologies accounts for 10.4% of Appian Way Asset Management LP's holdings, making the stock its 5th biggest holding. Appian Way Asset Management LP owned approximately 2.80% of PureCycle Technologies worth $49,873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCT. Vanguard Group Inc. grew its stake in shares of PureCycle Technologies by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock valued at $144,530,000 after buying an additional 758,382 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in PureCycle Technologies by 3.7% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock valued at $35,492,000 after acquiring an additional 122,700 shares during the last quarter. Geode Capital Management LLC grew its position in PureCycle Technologies by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 3,185,348 shares of the company's stock valued at $32,658,000 after acquiring an additional 60,903 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in PureCycle Technologies in the fourth quarter worth $13,859,000. Finally, Northern Trust Corp lifted its position in shares of PureCycle Technologies by 7.5% during the fourth quarter. Northern Trust Corp now owns 1,240,393 shares of the company's stock worth $12,714,000 after purchasing an additional 86,233 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

PureCycle Technologies Trading Up 0.9 %

Shares of NASDAQ PCT traded up $0.06 during mid-day trading on Friday, reaching $6.72. The company had a trading volume of 1,881,213 shares, compared to its average volume of 2,343,477. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -4.48 and a beta of 1.68. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58. The business's 50-day moving average is $7.24 and its 200-day moving average is $9.72. 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 (NASDAQ:PCT - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). Equities analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the business's stock in a transaction on 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 transaction, the insider now owns 34,077,574 shares of the company's stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.67% of the stock is currently owned by company insiders.

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.