Brokerages Set PureCycle Technologies, Inc. (NASDAQ:PCT) Target Price at $12.25

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have earned a consensus rating of “Moderate Buy” from the four ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.25.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in PureCycle Technologies by 43.5% during the first quarter. NewEdge Advisors LLC now owns 169,323 shares of the company’s stock worth $879,000 after buying an additional 51,290 shares in the last quarter. California State Teachers Retirement System raised its position in PureCycle Technologies by 43.2% in the first quarter. California State Teachers Retirement System now owns 181,015 shares of the company’s stock valued at $939,000 after purchasing an additional 54,650 shares during the last quarter. Rokos Capital Management LLP bought a new position in PureCycle Technologies during the 1st quarter worth $7,526,000. Quantinno Capital Management LP increased its position in PureCycle Technologies by 707.8% during the 1st quarter. Quantinno Capital Management LP now owns 428,534 shares of the company’s stock valued at $2,224,000 after purchasing an additional 375,486 shares during the period. Finally, Waverly Advisors LLC acquired a new position in shares of PureCycle Technologies in the 1st quarter worth approximately $99,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Price Performance

Shares of PCT stock opened at $7.61 on Monday. 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 fifty day moving average of $9.83 and a two-hundred day moving average of $8.67. The firm has a market cap of $1.38 billion, a P/E ratio of -5.18 and a beta of 2.50. PureCycle Technologies has a 1-year low of $4.93 and a 1-year high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. The company had revenue of $4.13 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that PureCycle Technologies will post -1 earnings per share for the current fiscal year.

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.