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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have earned an average recommendation of “Moderate Buy” from the four research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.6667.

PCT has been the topic of a number of recent research reports. TD Cowen reaffirmed a “hold” rating and set a $9.00 price objective (down previously from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PCT. Fourpath Capital Management LLC lifted its stake in PureCycle Technologies by 2.7% during the 2nd quarter. Fourpath Capital Management LLC now owns 25,131 shares of the company’s stock valued at $344,000 after acquiring an additional 670 shares during the period. Lake Hills Wealth Management LLC lifted its holdings in PureCycle Technologies by 1.3% in the third quarter. Lake Hills Wealth Management LLC now owns 67,148 shares of the company’s stock valued at $883,000 after acquiring an additional 878 shares during the period. First National Advisers LLC grew its stake in shares of PureCycle Technologies by 0.4% during the 3rd quarter. First National Advisers LLC now owns 212,791 shares of the company’s stock worth $2,799,000 after purchasing an additional 932 shares during the period. Focused Wealth Management Inc lifted its stake in shares of PureCycle Technologies by 7.1% in the 4th quarter. Focused Wealth Management Inc now owns 15,005 shares of the company’s stock valued at $129,000 after purchasing an additional 1,000 shares during the period. Finally, Cherry Creek Investment Advisors Inc. grew its position in PureCycle Technologies by 6.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 24,787 shares of the company’s stock valued at $326,000 after buying an additional 1,395 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $10.22 on Friday. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.24 and a quick ratio of 2.15. The firm has a market capitalization of $1.84 billion, a P/E ratio of -7.00 and a beta of 2.03. PureCycle Technologies has a 1-year low of $5.40 and a 1-year high of $17.37. The company’s 50-day moving average is $9.55 and its 200 day moving average is $11.86.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.19). The business had revenue of $2.43 million during the quarter, compared to analyst estimates of $6.04 million. Research analysts forecast that PureCycle Technologies will post -1.01 EPS for the current 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.