PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) - Cantor Fitzgerald lifted their FY2025 EPS estimates for shares of PureCycle Technologies in a report released on Thursday, May 8th. Cantor Fitzgerald analyst A. Sheppard now forecasts that the company will earn ($0.54) per share for the year, up from their previous forecast of ($0.93). The consensus estimate for PureCycle Technologies' current full-year earnings is ($1.01) per share.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.02). The company had revenue of $1.58 million for the quarter, compared to the consensus estimate of $4.27 million.
Separately, TD Cowen reduced their target price on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.
Check Out Our Latest Stock Report on PCT
PureCycle Technologies Stock Down 2.5%
PCT stock traded down $0.20 during trading on Monday, hitting $7.93. 2,954,082 shares of the company's stock traded hands, compared to its average volume of 2,376,538. The firm has a market capitalization of $1.42 billion, a P/E ratio of -5.29 and a beta of 1.68. The business has a fifty day simple moving average of $6.96 and a two-hundred day simple moving average of $9.51. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. PureCycle Technologies has a 1 year low of $4.50 and a 1 year high of $15.58.
Hedge Funds Weigh In On PureCycle Technologies
Institutional investors have recently modified their holdings of the stock. Duquesne Family Office LLC acquired a new stake in PureCycle Technologies in the 4th quarter worth about $16,323,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $13,859,000. Vanguard Group Inc. boosted its holdings in shares of PureCycle Technologies by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock worth $144,530,000 after purchasing an additional 758,382 shares during the last quarter. Huntleigh Advisors Inc. acquired a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $4,844,000. Finally, Nuveen LLC acquired a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $2,306,000. Hedge funds and other institutional investors own 63.01% of the company's stock.
PureCycle Technologies Company Profile
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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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