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

PureCycle Technologies (NASDAQ:PCT - Get Free Report) had its target price upped by investment analysts at Cantor Fitzgerald from $12.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target points to a potential upside of 18.12% from the stock's previous close.

Several other research firms have also weighed in on PCT. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a report on Monday. Wall Street Zen raised PureCycle Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $12.50.

PureCycle Technologies Trading Up 3.3%

Shares of NASDAQ:PCT opened at $13.55 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.45 and a current ratio of 0.55. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -11.65 and a beta of 1.80. PureCycle Technologies has a 1-year low of $4.50 and a 1-year high of $15.58. The company has a 50 day moving average price of $8.90 and a 200 day moving average price of $9.03.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.02). The business had revenue of $1.58 million for the quarter, compared to the consensus estimate of $4.27 million. On average, research analysts anticipate that PureCycle Technologies will post -1.01 EPS for the current fiscal year.

Institutional Trading of PureCycle Technologies

Several hedge funds have recently modified their holdings of PCT. NBC Securities Inc. bought a new position in PureCycle Technologies in the 1st quarter valued at $25,000. Jones Financial Companies Lllp raised its stake in shares of PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after buying an additional 2,291 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after buying an additional 2,861 shares during the period. CWM LLC boosted its stake in PureCycle Technologies by 158.7% in the first quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after acquiring an additional 3,043 shares during the last quarter. Finally, US Bancorp DE boosted its stake in PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after acquiring an additional 2,019 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

About PureCycle Technologies

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.

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