PureCycle Technologies (NASDAQ:PCT) Sets New 12-Month Low – Should You Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT) shares reached a new 52-week low on Thursday. The stock traded as low as $4.92 and last traded at $4.9250, with a volume of 2886213 shares traded. The stock had previously closed at $5.15.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Wednesday, September 2nd. Alembic Global Advisors set a $16.00 price target on PureCycle Technologies in a research report on Tuesday, June 16th. Northland Securities set a $13.00 price target on PureCycle Technologies in a research note on Friday, June 12th. Finally, Cantor Fitzgerald dropped their price target on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PureCycle Technologies presently has an average rating of “Hold” and a consensus target price of $11.75.

PureCycle Technologies Stock Up 3.3%

The business’s 50 day moving average is $6.36 and its 200 day moving average is $7.50. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -3.44 and a beta of 2.57.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.51). The firm had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $6.11 million. PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%. Equities analysts expect that PureCycle Technologies, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, Director Fernando Musa purchased 15,479 shares of the stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $6.38 per share, for a total transaction of $98,756.02. Following the completion of the acquisition, the director owned 175,983 shares of the company’s stock, valued at $1,122,771.54. This represents a 9.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.80% of the company’s stock.

Institutional Investors Weigh In On PureCycle Technologies

A number of institutional investors have recently bought and sold shares of PCT. ProShare Advisors LLC increased its holdings in shares of PureCycle Technologies by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 23,738 shares of the company’s stock valued at $204,000 after purchasing an additional 1,526 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of PureCycle Technologies by 2.3% in the second quarter. Integrated Wealth Concepts LLC now owns 71,442 shares of the company’s stock worth $579,000 after purchasing an additional 1,625 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of PureCycle Technologies by 1.7% during the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company’s stock worth $574,000 after purchasing an additional 1,823 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of PureCycle Technologies by 17.6% during the first quarter. Sequoia Financial Advisors LLC now owns 13,451 shares of the company’s stock worth $70,000 after purchasing an additional 2,016 shares during the period. Finally, Corient Private Wealth LLC grew its position in PureCycle Technologies by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 76,479 shares of the company’s stock valued at $657,000 after purchasing an additional 2,692 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc is a chemical recycling company that develops and operates technology designed to convert waste polypropylene plastic into recycled polypropylene resin. Unlike conventional mechanical recycling, which can leave behind colors, odors and other contaminants, PureCycle’s proprietary purification process is intended to separate impurities from polypropylene and produce a recycled material with properties similar to virgin resin.

The company’s products are recycled polypropylene pellets and related materials that can be used in applications such as packaging, consumer products, automotive components and other molded plastic goods.