PureCycle Technologies (NASDAQ:PCT) Stock Price Down 4.9% – Should You Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT) shares traded down 4.9% during trading on Wednesday . The stock traded as low as $11.69 and last traded at $11.6920. 2,068,538 shares were traded during mid-day trading, a decline of 55% from the average session volume of 4,591,542 shares. The stock had previously closed at $12.29.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Cantor Fitzgerald lowered their price objective on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, TD Cowen dropped their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PureCycle Technologies currently has an average rating of “Moderate Buy” and an average price target of $12.00.

PureCycle Technologies Price Performance

The company has a debt-to-equity ratio of 47.59, a quick ratio of 1.57 and a current ratio of 1.71. The firm has a market capitalization of $2.14 billion, a P/E ratio of -8.16 and a beta of 2.31. The business has a fifty day moving average of $7.01 and a 200-day moving average of $8.47.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.83 million. On average, sell-side analysts forecast that PureCycle Technologies, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Trading of PureCycle Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hohimer Wealth Management LLC bought a new position in shares of PureCycle Technologies in the third quarter valued at $6,452,000. SWS Partners boosted its stake in shares of PureCycle Technologies by 31.9% during the 4th quarter. SWS Partners now owns 988,463 shares of the company’s stock worth $8,491,000 after acquiring an additional 238,947 shares in the last quarter. Fiscal Wisdom Wealth Management LLC acquired a new position in shares of PureCycle Technologies in the 3rd quarter worth $2,798,000. Principal Financial Group Inc. acquired a new stake in shares of PureCycle Technologies during the third quarter worth $890,000. Finally, First National Bank of Omaha acquired a new stake in shares of PureCycle Technologies during the third quarter worth $2,684,000. 63.01% of the stock is currently owned by institutional investors.

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.