PureCycle Technologies (NASDAQ:PCT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PureCycle Technologies (NASDAQ:PCT) from a sell rating to a hold rating in a research note released on Saturday morning.

Separately, TD Cowen cut their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

PureCycle Technologies Stock Performance

Shares of PCT opened at $11.87 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The stock has a market cap of $2.13 billion, a P/E ratio of -7.91 and a beta of 1.80. The company has a 50-day moving average of $8.18 and a two-hundred day moving average of $9.02. PureCycle Technologies has a 12-month low of $4.50 and a 12-month high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to analysts’ expectations of $4.27 million. As a group, research analysts predict that PureCycle Technologies will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On PureCycle Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in shares of PureCycle Technologies by 1.7% during the 4th quarter. Rhumbline Advisers now owns 193,676 shares of the company’s stock valued at $1,985,000 after acquiring an additional 3,248 shares during the last quarter. Sanctuary Advisors LLC increased its position in PureCycle Technologies by 4.8% during the fourth quarter. Sanctuary Advisors LLC now owns 216,293 shares of the company’s stock worth $2,046,000 after purchasing an additional 9,954 shares during the last quarter. Highview Capital Management LLC DE acquired a new position in PureCycle Technologies during the fourth quarter worth approximately $324,000. Truist Financial Corp acquired a new position in PureCycle Technologies during the fourth quarter worth approximately $145,000. Finally, Fortis Group Advisors LLC increased its holdings in shares of PureCycle Technologies by 159.1% during the 4th quarter. Fortis Group Advisors LLC now owns 32,025 shares of the company’s stock worth $328,000 after buying an additional 19,666 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.