PureCycle Technologies (NASDAQ:PCT) Stock Price Down 10.6% – Should You Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s share price was down 10.6% on Thursday . The company traded as low as $10.17 and last traded at $10.1430. Approximately 1,736,355 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 4,392,411 shares. The stock had previously closed at $11.35.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PCT shares. TD Cowen reiterated a “hold” rating and issued a $9.00 target price (down previously from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PureCycle Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

PureCycle Technologies Price Performance

The company has a market cap of $1.72 billion, a P/E ratio of -6.55 and a beta of 2.03. The stock has a 50-day simple moving average of $9.58 and a 200 day simple moving average of $11.82. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24.

PureCycle Technologies (NASDAQ:PCT) last issued its earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.19). The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $6.04 million. On average, equities analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of PureCycle Technologies by 62.4% in the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock worth $7,213,000 after purchasing an additional 400,520 shares during the last quarter. AQR Capital Management LLC boosted its position in PureCycle Technologies by 67.9% in the first quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock valued at $145,000 after buying an additional 8,478 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in PureCycle Technologies by 4.3% during the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after buying an additional 1,516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PureCycle Technologies by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock worth $507,000 after buying an additional 3,161 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of PureCycle Technologies in the first quarter valued at approximately $3,770,000. 63.01% of the stock is owned by institutional investors.

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.