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

PureCycle Technologies, Inc. (NASDAQ:PCT) has been given an average recommendation of “Moderate Buy” by the four analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $13.6667.

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. TD Cowen reaffirmed a “hold” rating and issued a $9.00 price objective (down previously from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th.

PureCycle Technologies Trading Down 3.7%

Shares of PCT stock opened at $8.66 on Tuesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -5.93 and a beta of 2.05. The company has a current ratio of 2.24, a quick ratio of 2.15 and a debt-to-equity ratio of 5.21. The firm has a 50-day moving average price of $9.69 and a 200 day moving average price of $11.16. PureCycle Technologies has a twelve month low of $5.40 and a twelve month high of $17.37.

Institutional Investors Weigh In On PureCycle Technologies

Several hedge funds have recently modified their holdings of the stock. TMB Capital Partners LLC acquired a new position in PureCycle Technologies during the fourth quarter worth approximately $475,000. Zazove Associates LLC acquired a new stake in shares of PureCycle Technologies during the 4th quarter worth $222,000. NewEdge Advisors LLC raised its position in shares of PureCycle Technologies by 39.3% in the 4th quarter. NewEdge Advisors LLC now owns 118,033 shares of the company’s stock worth $1,014,000 after buying an additional 33,310 shares during the period. VARCOV Co. acquired a new position in PureCycle Technologies in the fourth quarter valued at $137,000. Finally, SummitTX Capital L.P. purchased a new stake in PureCycle Technologies during the fourth quarter valued at about $90,000. 63.01% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

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.