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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have been given a consensus rating of “Moderate Buy” by the four research firms that are presently 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 given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $12.25.

PCT has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Northland Securities set a $13.00 target price on shares of PureCycle Technologies in a report on Friday, June 12th. TD Cowen dropped 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. Finally, Wall Street Zen lowered PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th.

PureCycle Technologies Stock Performance

Shares of PCT opened at $7.61 on Monday. PureCycle Technologies has a fifty-two week low of $4.93 and a fifty-two week high of $17.37. The business has a 50-day moving average of $9.83 and a 200 day moving average of $8.67. The firm has a market cap of $1.38 billion, a P/E ratio of -5.18 and a beta of 2.50. The company has a debt-to-equity ratio of 47.59, a quick ratio of 1.57 and a current ratio of 1.71.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. As a group, research analysts forecast that PureCycle Technologies will post -1 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Focused Wealth Management Inc increased its position in shares of PureCycle Technologies by 7.1% during the fourth quarter. Focused Wealth Management Inc now owns 15,005 shares of the company’s stock valued at $129,000 after buying an additional 1,000 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of PureCycle Technologies by 4.3% in the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after acquiring an additional 1,516 shares during the period. ProShare Advisors LLC boosted its position in shares of PureCycle Technologies by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 23,738 shares of the company’s stock valued at $204,000 after acquiring an additional 1,526 shares during the period. Lido Advisors LLC grew its stake in PureCycle Technologies by 5.0% during the third quarter. Lido Advisors LLC now owns 32,824 shares of the company’s stock valued at $432,000 after acquiring an additional 1,574 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in PureCycle Technologies by 1.7% during the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company’s stock valued at $574,000 after acquiring an additional 1,823 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

About PureCycle Technologies

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.