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

PureCycle Technologies, Inc. (NASDAQ:PCT) has received an average rating of “Moderate Buy” from the four research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $12.25.

PCT has been the subject of several research reports. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a report on Tuesday, June 16th. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Wall Street Zen cut PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Northland Securities set a $13.00 price objective on PureCycle Technologies in a report on Friday, June 12th. Finally, TD Cowen decreased their target price on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, May 8th.

Institutional Investors Weigh In On PureCycle Technologies

Several large investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC purchased a new position in PureCycle Technologies in the first quarter valued at $33,000. Larson Financial Group LLC lifted its holdings in PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after buying an additional 2,563 shares during the last quarter. Advisory Services Network LLC purchased a new stake in PureCycle Technologies during the 3rd quarter worth about $35,000. SHP Wealth Management acquired a new position in shares of PureCycle Technologies during the 4th quarter worth about $43,000. Finally, Sigma Planning Corp acquired a new position in shares of PureCycle Technologies during the 1st quarter worth about $53,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Up 7.3%

PCT opened at $6.35 on Friday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -4.32 and a beta of 2.50. The company’s 50 day simple moving average is $8.71 and its two-hundred day simple moving average is $8.35. PureCycle Technologies has a 1-year low of $4.93 and a 1-year high of $15.49. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. Analysts expect that PureCycle Technologies will post -1 EPS 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.