Roth Mkm restated their buy rating on shares of PureCycle Technologies (NYSE:PCT – Free Report) in a report issued on Thursday, Benzinga reports. They currently have a $12.50 target price on the stock.
Separately, Oppenheimer lifted their price objective on shares of PureCycle Technologies from $14.00 to $18.00 and gave the stock an outperform rating in a research report on Thursday, August 10th.
PureCycle Technologies Stock Performance
PureCycle Technologies (NYSE:PCT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.04). On average, research analysts predict that PureCycle Technologies will post -0.76 EPS for the current fiscal year.
Hedge Funds Weigh In On PureCycle Technologies
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carmel Capital Partners LLC boosted its stake in shares of PureCycle Technologies by 285.7% during the 2nd quarter. Carmel Capital Partners LLC now owns 2,700 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares during the period. Verus Capital Partners LLC acquired a new stake in shares of PureCycle Technologies during the 1st quarter valued at $72,000. Scotia Capital Inc. acquired a new stake in shares of PureCycle Technologies during the 1st quarter valued at $72,000. Sequoia Financial Advisors LLC acquired a new stake in shares of PureCycle Technologies during the 1st quarter valued at $76,000. Finally, Sei Investments Co. acquired a new stake in shares of PureCycle Technologies during the 1st quarter valued at $76,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
PureCycle Technologies Company Profile
PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. PureCycle Technologies, Inc was founded in 2015 and is headquartered in Orlando, Florida.
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