Cantor Fitzgerald Issues Pessimistic Forecast for PureCycle Technologies (NASDAQ:PCT) Stock Price

Key Points

• Cantor Fitzgerald lowered its PureCycle Technologies price target from $14 to $12 while maintaining an “overweight” rating, implying roughly 75% upside from the stock’s $6.87 price.
• Analyst sentiment is mixed, with ratings ranging from “strong buy” to “strong sell”; MarketBeat reports a consensus “Moderate Buy” rating and an average target of $11.75.
• PureCycle missed quarterly expectations, reporting a $0.33 loss per share versus a $0.29 consensus loss and revenue of $4.51 million versus $6.11 million expected. Institutional investors own approximately 63% of the company.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) had its target price lowered by equities researchers at Cantor Fitzgerald from $14.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 74.67% from the stock's current price.

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

PureCycle Technologies Price Performance

Shares of PCT opened at $6.87 on Friday. The company has a market cap of $1.24 billion, a P/E ratio of -4.67 and a beta of 2.57. PureCycle Technologies has a fifty-two week low of $4.93 and a fifty-two week high of $15.49. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 47.59. The firm's 50 day moving average price is $8.19 and its 200 day moving average price is $8.20.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The company had revenue of $4.51 million for the quarter, compared to analysts' expectations of $6.11 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. On average, research analysts forecast that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Focused Wealth Management Inc grew its stake in shares of PureCycle Technologies by 7.1% during the 4th quarter. Focused Wealth Management Inc now owns 15,005 shares of the company's stock valued at $129,000 after buying an additional 1,000 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of 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 buying an additional 1,516 shares during the period. ProShare Advisors LLC boosted its holdings in PureCycle Technologies by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 23,738 shares of the company's stock valued at $204,000 after acquiring an additional 1,526 shares during the last quarter. Lido Advisors LLC boosted its holdings in PureCycle Technologies by 5.0% in the third quarter. Lido Advisors LLC now owns 32,824 shares of the company's stock valued at $432,000 after acquiring an additional 1,574 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in PureCycle Technologies by 1.7% during the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company's stock valued at $574,000 after acquiring an additional 1,823 shares during the period. Institutional investors and hedge funds 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.

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