Sovereign Financial Group Inc. Buys 2,652 Shares of PureCycle Technologies, Inc. (NYSE:PCT)

Sovereign Financial Group Inc. lifted its stake in PureCycle Technologies, Inc. (NYSE:PCT) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,700 shares of the company’s stock after buying an additional 2,652 shares during the quarter. Sovereign Financial Group Inc.’s holdings in PureCycle Technologies were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in PureCycle Technologies by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock worth $69,000 after acquiring an additional 3,128 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of PureCycle Technologies by 4.8% during the 4th quarter. Venture Visionary Partners LLC now owns 68,306 shares of the company’s stock valued at $277,000 after buying an additional 3,145 shares in the last quarter. Sigma Planning Corp boosted its holdings in PureCycle Technologies by 16.7% in the 3rd quarter. Sigma Planning Corp now owns 22,507 shares of the company’s stock worth $126,000 after buying an additional 3,225 shares during the period. Principal Financial Group Inc. increased its stake in PureCycle Technologies by 28.0% in the 3rd quarter. Principal Financial Group Inc. now owns 16,191 shares of the company’s stock worth $91,000 after buying an additional 3,546 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of PureCycle Technologies by 16.3% in the fourth quarter. Arizona State Retirement System now owns 29,798 shares of the company’s stock valued at $121,000 after acquiring an additional 4,167 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Activity at PureCycle Technologies

In related news, Director Fernando Musa acquired 18,303 shares of PureCycle Technologies stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $5.46 per share, with a total value of $99,934.38. Following the completion of the purchase, the director now directly owns 68,413 shares of the company’s stock, valued at approximately $373,534.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.09% of the stock is owned by insiders.

PureCycle Technologies Price Performance

PCT stock traded down $0.25 during midday trading on Wednesday, hitting $4.77. The company’s stock had a trading volume of 2,236,176 shares, compared to its average volume of 2,507,529. The firm has a market capitalization of $784.38 million, a price-to-earnings ratio of -7.03 and a beta of 1.60. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 1.21. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $11.89. The company has a 50 day moving average of $5.49 and a two-hundred day moving average of $4.61.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. On average, analysts expect that PureCycle Technologies, Inc. will post -0.53 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.