PureCycle Technologies, Inc. (NASDAQ:PCT) Receives Average Rating of “Moderate Buy” from Brokerages
by Kim Johansen · The Markets DailyShares of PureCycle Technologies, Inc. (NASDAQ:PCT – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the four ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.00.
PCT has been the topic of several research analyst reports. TD Cowen cut their target price on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Cantor Fitzgerald cut their target price on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Wall Street Zen lowered PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th.
PureCycle Technologies Stock Down 4.0%
Shares of PureCycle Technologies stock opened at $12.02 on Thursday. PureCycle Technologies has a one year low of $4.93 and a one year high of $17.37. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. The stock’s 50-day moving average is $8.88 and its 200 day moving average is $8.71. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -8.18 and a beta of 2.48.
PureCycle Technologies (NASDAQ:PCT – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%.The company had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.83 million. Equities research analysts anticipate that PureCycle Technologies will post -0.99 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC bought a new position in PureCycle Technologies in the first quarter worth approximately $33,000. Larson Financial Group LLC boosted its holdings in PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after acquiring an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of PureCycle Technologies in the third quarter worth approximately $35,000. SHP Wealth Management purchased a new stake in shares of PureCycle Technologies in the fourth quarter worth approximately $43,000. Finally, Sigma Planning Corp purchased a new stake in shares of PureCycle Technologies in the first quarter worth approximately $53,000. Institutional investors own 63.01% of the company’s stock.
PureCycle Technologies Company Profile
PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.
Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.