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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $12.00.

PCT has been the topic of several research reports. TD Cowen reduced their price target on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Cantor Fitzgerald reduced their price target on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Wall Street Zen cut shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th.

Institutional Trading of PureCycle Technologies

Several institutional investors have recently modified their holdings of PCT. Cassaday & Co Wealth Management LLC bought a new stake in shares of PureCycle Technologies in the first quarter worth $33,000. Larson Financial Group LLC boosted its holdings 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 bought a new stake in PureCycle Technologies in the third quarter valued at approximately $35,000. SHP Wealth Management bought a new stake in PureCycle Technologies in the fourth quarter valued at approximately $43,000. Finally, Sigma Planning Corp bought a new stake in PureCycle Technologies in the first quarter valued at approximately $53,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $13.63 on Thursday. PureCycle Technologies has a 12-month low of $4.93 and a 12-month high of $17.37. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 47.59. The business’s 50-day moving average price is $8.44 and its two-hundred day moving average price is $8.62. The stock has a market cap of $2.47 billion, a PE ratio of -9.27 and a beta of 2.48.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. As a group, analysts expect that PureCycle Technologies will post -0.99 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.