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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received a consensus rating of “Moderate Buy” from the four brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $13.6667.

Several research firms recently issued reports on PCT. TD Cowen reaffirmed a “hold” rating and set a $9.00 price target (down previously from $16.00) on shares of PureCycle Technologies in a research note on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd.

PureCycle Technologies Price Performance

PCT stock opened at $9.15 on Friday. The firm has a market cap of $1.65 billion, a P/E ratio of -6.27 and a beta of 2.05. 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 has a 1 year low of $5.40 and a 1 year high of $17.37. The stock has a 50-day simple moving average of $9.67 and a 200-day simple moving average of $11.64.

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

Institutional Investors Weigh In On PureCycle Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Anthracite Investment Company Inc. acquired a new stake in PureCycle Technologies in the second quarter worth $2,932,000. Forum Financial Management LP increased its holdings in shares of PureCycle Technologies by 66.7% in the 2nd quarter. Forum Financial Management LP now owns 125,000 shares of the company’s stock worth $1,712,000 after acquiring an additional 50,000 shares during the period. Sanders Morris Harris LLC bought a new stake in PureCycle Technologies in the 3rd quarter valued at about $1,831,000. Fortitude Advisory Group L.L.C. boosted its stake in PureCycle Technologies by 218.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 70,000 shares of the company’s stock valued at $959,000 after purchasing an additional 48,000 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new position in PureCycle Technologies in the 2nd quarter worth about $411,000. 63.01% of the stock is currently owned by hedge funds and other 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.