PureCycle Technologies, Inc. (NASDAQ:PCT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have been assigned an average rating of “Moderate Buy” from the four brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.75.

Several brokerages have issued reports on PCT. Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Wall Street Zen lowered PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Cantor Fitzgerald dropped their price target on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, TD Cowen reduced their price objective on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, May 8th.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $7.22 on Tuesday. The stock has a market cap of $1.45 billion, a P/E ratio of -4.95 and a beta of 2.57. PureCycle Technologies has a twelve month low of $4.93 and a twelve month high of $15.49. The stock has a 50 day moving average of $7.41 and a two-hundred day moving average of $7.99. The company has a current ratio of 2.60, a quick ratio of 2.42 and a debt-to-equity ratio of 27.37.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). The business had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $6.11 million. PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%. On average, research analysts forecast that PureCycle Technologies will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On PureCycle Technologies

Several large investors have recently modified their holdings of PCT. Royal Bank of Canada grew its position in PureCycle Technologies by 62.4% in the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after buying an additional 400,520 shares during the last quarter. AQR Capital Management LLC raised its position in PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after buying an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of PureCycle Technologies by 4.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after acquiring an additional 1,516 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PureCycle Technologies by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock valued at $507,000 after acquiring an additional 3,161 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter worth about $3,770,000. Hedge funds and other 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.