PureCycle Technologies, Inc. (NASDAQ:PCT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received a consensus recommendation of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.6667.

A number of brokerages recently issued reports on PCT. TD Cowen reissued a “hold” rating and set a $9.00 price objective (down from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd.

Institutional Trading of PureCycle Technologies

A number of institutional investors have recently bought and sold shares of PCT. Nisa Investment Advisors LLC boosted its holdings in shares of PureCycle Technologies by 278.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock valued at $35,000 after buying an additional 1,891 shares in the last quarter. Larson Financial Group LLC lifted its position in PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after acquiring an additional 2,563 shares during the last quarter. Advisory Services Network LLC acquired a new position in PureCycle Technologies in the third quarter valued at $35,000. Farther Finance Advisors LLC grew its holdings in shares of PureCycle Technologies by 3,047.8% during the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock worth $79,000 after purchasing an additional 8,869 shares during the last quarter. Finally, Bluefin Capital Management LLC purchased a new position in shares of PureCycle Technologies during the second quarter worth about $137,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

PureCycle Technologies Trading Down 10.0%

Shares of NASDAQ:PCT opened at $10.22 on Friday. The business’s 50 day moving average price is $9.55 and its 200-day moving average price is $11.86. PureCycle Technologies has a 1 year low of $5.40 and a 1 year high of $17.37. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -7.00 and a beta of 2.03. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.24 and a quick ratio of 2.15.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.19). The company had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $6.04 million. On average, equities research analysts forecast that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

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.