PureCycle Technologies (NASDAQ:PCT) Reaches New 52-Week Low – Here’s What Happened

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.12 and last traded at $5.42, with a volume of 13136961 shares changing hands. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PCT shares. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Thursday, January 22nd. TD Cowen reaffirmed a “hold” rating and set a $9.00 price objective (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

PureCycle Technologies Price Performance

The company has a debt-to-equity ratio of 7.62, a quick ratio of 2.15 and a current ratio of 2.26. The stock has a market capitalization of $978.85 million, a PE ratio of -4.48 and a beta of 2.07. The company’s fifty day simple moving average is $8.91 and its two-hundred day simple moving average is $10.39.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The business had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. As a group, sell-side analysts predict that PureCycle Technologies, Inc. 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 stock. Hohimer Wealth Management LLC purchased a new stake in PureCycle Technologies during the 3rd quarter worth about $6,452,000. Sanders Morris Harris LLC purchased a new position in PureCycle Technologies in the 3rd quarter valued at about $1,831,000. Fiscal Wisdom Wealth Management LLC purchased a new position in PureCycle Technologies in the 3rd quarter valued at about $2,798,000. Principal Financial Group Inc. acquired a new stake in shares of PureCycle Technologies during the 3rd quarter worth about $890,000. Finally, First National Bank of Omaha acquired a new stake in shares of PureCycle Technologies during the 3rd quarter worth about $2,684,000. Hedge funds and other 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.