PureCycle Technologies, Inc. (NASDAQ:PCT) Receives $12.25 Consensus Target Price from Brokerages

PureCycle Technologies, Inc. (NASDAQ:PCT) has received a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.25.

Several analysts have commented on the company. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note 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 on the stock in a research note on Friday, May 8th. Northland Securities set a $13.00 price objective on shares of PureCycle Technologies in a research note on Friday, June 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Finally, Alembic Global Advisors set a $16.00 target price on PureCycle Technologies in a research note on Tuesday, June 16th.

Institutional Trading of PureCycle Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PCT. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth approximately $33,000. Larson Financial Group LLC lifted 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 buying an additional 2,563 shares during the period. Advisory Services Network LLC bought a new stake in PureCycle Technologies during the third quarter valued at $35,000. SHP Wealth Management acquired a new stake in PureCycle Technologies during the 4th quarter worth about $43,000. Finally, Sigma Planning Corp acquired a new stake in PureCycle Technologies during the 1st quarter worth about $53,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $5.85 on Friday. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. The firm has a market capitalization of $1.06 billion, a PE ratio of -3.98 and a beta of 2.50. PureCycle Technologies has a 1 year low of $4.93 and a 1 year high of $15.75. The business’s 50 day moving average price is $9.19 and its 200-day moving average price is $8.45.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to analyst estimates 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, equities research analysts expect that PureCycle Technologies will post -1 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.