PureCycle Technologies (NASDAQ:PCT) Price Target Cut to $12.00 by Analysts at Cantor Fitzgerald

PureCycle Technologies (NASDAQ:PCT) had its price target lowered by Cantor Fitzgerald from $14.00 to $12.00 in a research report report published on Friday, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other equities analysts also recently commented on PCT. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. Northland Securities set a $13.00 price objective on shares of PureCycle Technologies in a report on Friday, June 12th. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a research report on Tuesday, June 16th. Wall Street Zen cut shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Finally, TD Cowen dropped their price target on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.75.

PureCycle Technologies Stock Performance

PCT opened at $7.21 on Friday. The business has a fifty day simple moving average of $8.09 and a 200 day simple moving average of $8.20. The company has a market capitalization of $1.30 billion, a PE ratio of -4.94 and a beta of 2.57. PureCycle Technologies has a 1 year low of $4.93 and a 1 year high of $15.49. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 517.87%. The firm had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. Research analysts expect that PureCycle Technologies will post -1.01 EPS for the current year.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Drive Wealth Management LLC bought a new position in PureCycle Technologies in the fourth quarter valued at approximately $2,180,000. Indivisible Partners bought a new stake in PureCycle Technologies during the fourth quarter worth $5,803,000. Fortis Group Advisors LLC boosted its holdings in shares of PureCycle Technologies by 85.0% in the 4th quarter. Fortis Group Advisors LLC now owns 238,107 shares of the company’s stock valued at $2,045,000 after purchasing an additional 109,429 shares in the last quarter. Ethos Financial Group LLC increased its stake in shares of PureCycle Technologies by 27.9% in the 1st quarter. Ethos Financial Group LLC now owns 711,913 shares of the company’s stock valued at $3,602,000 after purchasing an additional 155,140 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of PureCycle Technologies by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,445,556 shares of the company’s stock valued at $7,502,000 after purchasing an additional 222,996 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

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.