PureCycle Technologies, Inc. (NASDAQ:PCT) Stake Decreased 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% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,865,682 shares of the company's stock after selling 808,486 shares during the period. PureCycle Technologies comprises 10.4% of Appian Way Asset Management LP's investment portfolio, making the stock its 5th biggest position. Appian Way Asset Management LP owned about 2.80% of PureCycle Technologies worth $49,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PCT. Jones Financial Companies Lllp lifted its stake in PureCycle Technologies by 286.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after purchasing an additional 2,291 shares in the last quarter. Sterling Capital Management LLC grew its holdings in PureCycle Technologies by 775.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after buying an additional 2,861 shares in the last quarter. US Bancorp DE increased its stake in shares of PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after acquiring an additional 2,019 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of PureCycle Technologies in the 4th quarter worth $80,000. Finally, Keudell Morrison Wealth Management purchased a new position in shares of PureCycle Technologies during the 4th quarter worth $117,000. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Trading Down 2.0 %

PCT stock traded down $0.13 during midday trading on Tuesday, hitting $6.56. 632,213 shares of the company's stock were exchanged, compared to its average volume of 2,338,018. The business has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $9.69. The stock has a market capitalization of $1.18 billion, a PE ratio of -4.38 and a beta of 1.68. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. 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 posted its earnings results 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, sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business's stock in a transaction on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.67% of the company's stock.

PureCycle Technologies Company 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.