Analysts Set PureCycle Technologies, Inc. (NASDAQ:PCT) PT at $13.00

PureCycle Technologies, Inc. (NASDAQ:PCT) has been given a consensus rating of “Moderate Buy” by the four ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.00.

PCT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Cantor Fitzgerald decreased their target price on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th.

Institutional Trading of PureCycle Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hohimer Wealth Management LLC bought a new stake in PureCycle Technologies during the 3rd quarter worth approximately $6,452,000. Sanders Morris Harris LLC bought a new position in PureCycle Technologies in the 3rd quarter valued at $1,831,000. Fiscal Wisdom Wealth Management LLC purchased a new position in shares of PureCycle Technologies during the 3rd quarter valued at $2,798,000. Principal Financial Group Inc. purchased a new position in shares of PureCycle Technologies during the 3rd quarter valued at $890,000. Finally, First National Bank of Omaha bought a new position in shares of PureCycle Technologies in the third quarter worth $2,684,000. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Stock Up 5.9%

Shares of PCT opened at $5.60 on Friday. PureCycle Technologies has a 12 month low of $5.12 and a 12 month high of $17.37. The firm’s 50 day moving average is $8.37 and its 200-day moving average is $10.08. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.63 and a beta of 2.07. The company has a current ratio of 2.26, a quick ratio of 2.15 and a debt-to-equity ratio of 7.62.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. Equities research analysts forecast that PureCycle Technologies will post -1.01 EPS for the current 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.