PureCycle Technologies (NASDAQ:PCT) Stock Rating Upgraded by TD Cowen

PureCycle Technologies (NASDAQ:PCT) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen upgraded PureCycle Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.50.

PureCycle Technologies Price Performance

PCT opened at $13.80 on Monday. The business’s 50-day moving average is $9.04 and its two-hundred day moving average is $9.06. PureCycle Technologies has a 1 year low of $4.50 and a 1 year high of $15.58. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.45. The firm has a market capitalization of $2.48 billion, a PE ratio of -11.79 and a beta of 1.80.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results 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 business had revenue of $1.58 million during the quarter, compared to the consensus estimate of $4.27 million. Research analysts anticipate that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PureCycle Technologies

A number of large investors have recently modified their holdings of the business. SWS Partners grew its stake in shares of PureCycle Technologies by 2.8% during the first quarter. SWS Partners now owns 757,279 shares of the company’s stock worth $5,240,000 after acquiring an additional 20,547 shares during the last quarter. Integrity Alliance LLC. purchased a new stake in shares of PureCycle Technologies during the first quarter worth about $277,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PureCycle Technologies by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 284,860 shares of the company’s stock worth $1,971,000 after purchasing an additional 23,609 shares during the period. Sylebra Capital LLC lifted its holdings in shares of PureCycle Technologies by 1.9% during the first quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company’s stock worth $235,817,000 after purchasing an additional 619,925 shares during the period. Finally, Samlyn Capital LLC lifted its holdings in shares of PureCycle Technologies by 19.1% during the first quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company’s stock worth $43,057,000 after purchasing an additional 997,337 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Company Profile

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.