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

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

A number of equities analysts recently weighed in on PCT shares. Northland Securities set a $13.00 price objective on shares of PureCycle Technologies in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Wall Street Zen cut shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. TD Cowen lowered their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, June 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SWS Partners boosted its stake in shares of PureCycle Technologies by 31.9% in the fourth quarter. SWS Partners now owns 988,463 shares of the company’s stock valued at $8,491,000 after purchasing an additional 238,947 shares during the period. Drive Wealth Management LLC purchased a new position in shares of PureCycle Technologies in the fourth quarter valued at approximately $2,180,000. Indivisible Partners purchased a new position in shares of PureCycle Technologies in the fourth quarter valued at approximately $5,803,000. Fortis Group Advisors LLC boosted its stake in shares of PureCycle Technologies by 85.0% in the fourth quarter. Fortis Group Advisors LLC now owns 238,107 shares of the company’s stock valued at $2,045,000 after purchasing an additional 109,429 shares during the period. Finally, Ethos Financial Group LLC boosted its stake in shares of PureCycle Technologies by 41.8% in the fourth quarter. Ethos Financial Group LLC now owns 556,773 shares of the company’s stock valued at $4,783,000 after purchasing an additional 164,185 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $7.79 on Monday. 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 stock has a market capitalization of $1.41 billion, a P/E ratio of -5.30 and a beta of 2.48. The company has a 50 day moving average price of $9.74 and a 200 day moving average price of $8.71. PureCycle Technologies has a fifty-two week low of $4.93 and a fifty-two week high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. The firm had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. Equities research analysts forecast that PureCycle Technologies will post -0.97 EPS 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.