PureCycle Technologies (NASDAQ:PCT) Upgraded at Wall Street Zen

PureCycle Technologies (NASDAQ:PCT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

A number of other brokerages have also weighed in on PCT. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price target (up previously from $12.00) on shares of PureCycle Technologies in a research note on Tuesday, June 24th. TD Cowen upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.50.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock opened at $15.25 on Friday. The stock’s fifty day simple moving average is $11.06 and its 200 day simple moving average is $9.30. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $2.74 billion, a PE ratio of -13.03 and a beta of 1.90. PureCycle Technologies has a 12 month low of $4.50 and a 12 month high of $15.98.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $1.58 million during the quarter, compared to the consensus estimate of $4.27 million. On average, research analysts predict that PureCycle Technologies will post -1.01 EPS for the current year.

Institutional Trading of PureCycle Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in PureCycle Technologies by 286.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after purchasing an additional 2,291 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of PureCycle Technologies by 775.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock worth $33,000 after buying an additional 2,861 shares during the last quarter. US Bancorp DE boosted its stake in shares of PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after buying an additional 2,019 shares during the last quarter. NBC Securities Inc. bought a new position in shares of PureCycle Technologies in the 1st quarter valued at about $25,000. Finally, CWM LLC increased its position in shares of PureCycle Technologies by 158.7% in the first quarter. CWM LLC now owns 4,960 shares of the company’s stock valued at $34,000 after acquiring an additional 3,043 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.