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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have been assigned an average recommendation of “Moderate Buy” from the four research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.00.

A number of research firms have recently issued reports on PCT. TD Cowen reduced 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. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald cut their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after purchasing an additional 2,563 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of PureCycle Technologies during the 3rd quarter worth approximately $35,000. SHP Wealth Management acquired a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $43,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $33,000. Finally, Farther Finance Advisors LLC raised its position in shares of PureCycle Technologies by 3,047.8% during the 4th quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock worth $79,000 after purchasing an additional 8,869 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Price Performance

PCT stock opened at $12.59 on Friday. The firm has a 50 day moving average of $6.75 and a 200-day moving average of $8.50. PureCycle Technologies has a 12-month low of $4.93 and a 12-month high of $17.37. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -8.56 and a beta of 2.31.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. The company had revenue of $4.13 million during the quarter, compared to the consensus estimate of $3.83 million. As a group, equities analysts expect that PureCycle Technologies will post -0.99 EPS for the current fiscal year.

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.