PureCycle Technologies (NASDAQ:PCT) Upgraded to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of PureCycle Technologies (NASDAQ:PCT – Free Report) from a sell rating to a hold rating in a report issued on Sunday.

A number of other equities research analysts have also recently commented on the company. TD Cowen upgraded PureCycle Technologies to a “strong-buy” rating in a research report on Monday, June 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $16.00 target price (up from $12.00) on shares of PureCycle Technologies in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PureCycle Technologies has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Get Our Latest Analysis on PureCycle Technologies

PureCycle Technologies Stock Down 1.4%

Shares of NASDAQ:PCT opened at $15.25 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -13.03 and a beta of 1.90. The stock has a fifty day simple moving average of $11.06 and a two-hundred day simple moving average of $9.29. PureCycle Technologies has a 12-month low of $4.50 and a 12-month high of $15.98. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43.

PureCycle Technologies (NASDAQ:PCT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The firm had revenue of $1.58 million during the quarter, compared to analyst estimates of $4.27 million. On average, research analysts anticipate that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of PureCycle Technologies

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in PureCycle Technologies by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 359,032 shares of the company’s stock worth $3,680,000 after buying an additional 12,878 shares during the period. US Bancorp DE lifted 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 period. Jones Financial Companies Lllp lifted its stake in shares of 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 acquiring an additional 2,291 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PureCycle Technologies by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,137,300 shares of the company’s stock valued at $11,657,000 after purchasing an additional 37,019 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in PureCycle Technologies during the fourth quarter valued at approximately $127,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

(Get Free Report)

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.

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