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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have been given an average recommendation of “Moderate Buy” by the four brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $13.00.

A number of research analysts have issued reports on PCT shares. 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 reissued a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald cut their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th.

Hedge Funds Weigh In On PureCycle Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCT. Larson Financial Group LLC grew its position in shares of PureCycle Technologies by 6,571.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after buying an additional 2,563 shares during the period. Advisory Services Network LLC purchased a new position in PureCycle Technologies during the 3rd quarter valued at about $35,000. SHP Wealth Management bought a new stake in PureCycle Technologies during the fourth quarter worth about $43,000. Farther Finance Advisors LLC grew its holdings in PureCycle Technologies by 3,047.8% in 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 period. Finally, Independent Advisor Alliance bought a new position in shares of PureCycle Technologies during the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 5.1%

NASDAQ PCT opened at $5.79 on Friday. PureCycle Technologies has a fifty-two week low of $5.12 and a fifty-two week high of $17.37. The company has a debt-to-equity ratio of 7.62, a quick ratio of 2.15 and a current ratio of 2.26. The stock has a 50 day simple moving average of $8.68 and a two-hundred day simple moving average of $10.27. The stock has a market cap of $1.05 billion, a P/E ratio of -4.79 and a beta of 2.07.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The business had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. On average, analysts forecast that PureCycle Technologies will post -1.01 earnings per share for the current year.

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.