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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received a consensus recommendation of “Moderate Buy” from the four ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.75.

A number of research analysts have recently weighed in on PCT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. TD Cowen reduced their target price on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, May 8th. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Cantor Fitzgerald lowered their price target on shares of PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research report on Friday, June 12th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new stake in PureCycle Technologies during the first quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in shares of PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after acquiring an additional 2,563 shares during the period. Advisory Services Network LLC bought a new position in shares of PureCycle Technologies in the third quarter worth about $35,000. SHP Wealth Management purchased a new stake in shares of PureCycle Technologies during the fourth quarter worth about $43,000. Finally, Sigma Planning Corp purchased a new stake in shares of PureCycle Technologies during the first quarter worth about $53,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 2.8%

NASDAQ:PCT opened at $6.61 on Tuesday. The company has a debt-to-equity ratio of 27.37, a current ratio of 2.60 and a quick ratio of 2.42. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -4.53 and a beta of 2.57. PureCycle Technologies has a one year low of $4.93 and a one year high of $15.49. The business has a fifty day moving average price of $7.14 and a 200-day moving average price of $7.87.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results 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). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The company had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $6.11 million. Sell-side analysts forecast that PureCycle Technologies will post -0.9 EPS for the current 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.