PureCycle Technologies (NASDAQ:PCT) Trading Down 10.6% – What’s Next?

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

PureCycle Technologies Trading Down 10.7%

The business has a 50-day moving average of $9.51 and a 200-day moving average of $11.87. The company has a quick ratio of 2.15, a current ratio of 2.24 and a debt-to-equity ratio of 5.21. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -6.98 and a beta of 2.03.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.19). The firm had revenue of $2.43 million during the quarter, compared to the consensus estimate of $6.04 million. As a group, research analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Institutional Trading of PureCycle Technologies

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in PureCycle Technologies by 62.4% in the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after acquiring an additional 400,520 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 8,478 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in PureCycle Technologies by 4.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after purchasing an additional 1,516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PureCycle Technologies by 4.5% during the 1st 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 PureCycle Technologies in the 1st quarter valued at $3,770,000. 63.01% of the stock is owned by institutional investors.

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.