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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have earned a consensus recommendation of “Moderate Buy” from the four research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.25.

A number of equities research analysts recently weighed in on the company. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, June 5th. 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 report on Friday, May 8th. Northland Securities set a $13.00 price objective on PureCycle Technologies in a report on Friday, June 12th. Finally, Alembic Global Advisors set a $16.00 price objective on PureCycle Technologies in a report on Tuesday, June 16th.

PureCycle Technologies Price Performance

PCT stock opened at $6.01 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. PureCycle Technologies has a one year low of $4.93 and a one year high of $16.00. The firm has a market capitalization of $1.09 billion, a PE ratio of -4.09 and a beta of 2.50. The firm has a 50-day moving average of $9.32 and a two-hundred day moving average of $8.47.

PureCycle Technologies (NASDAQ:PCT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.83 million. On average, analysts forecast that PureCycle Technologies will post -1 earnings per share for the current year.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Focused Wealth Management Inc grew its position in PureCycle Technologies by 7.1% during the 4th quarter. Focused Wealth Management Inc now owns 15,005 shares of the company’s stock worth $129,000 after acquiring an additional 1,000 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in PureCycle Technologies by 4.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after purchasing an additional 1,516 shares during the last quarter. ProShare Advisors LLC raised its position in PureCycle Technologies by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 23,738 shares of the company’s stock valued at $204,000 after purchasing an additional 1,526 shares during the last quarter. Lido Advisors LLC boosted its stake in PureCycle Technologies by 5.0% in the third quarter. Lido Advisors LLC now owns 32,824 shares of the company’s stock worth $432,000 after purchasing an additional 1,574 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in PureCycle Technologies by 1.7% in the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company’s stock worth $574,000 after purchasing an additional 1,823 shares in the last quarter. Institutional investors and hedge funds 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.