Cantor Fitzgerald Has Strong Outlook for PCT FY2025 Earnings

PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) - Equities researchers at Cantor Fitzgerald increased their FY2025 EPS estimates for PureCycle Technologies in a note issued to investors on Thursday, May 8th. Cantor Fitzgerald analyst A. Sheppard now expects that the company will post earnings of ($0.54) per share for the year, up from their prior 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 announced its quarterly earnings results 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 business had revenue of $1.58 million for the quarter, compared to analysts' expectations of $4.27 million.

Separately, TD Cowen reduced their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

PureCycle Technologies Stock Up 4.8%

Shares of NASDAQ PCT traded up $0.42 during trading on Monday, reaching $9.10. 1,573,882 shares of the stock were exchanged, compared to its average volume of 2,377,732. The business's 50-day moving average price is $6.95 and its 200 day moving average price is $9.45. PureCycle Technologies has a twelve month low of $4.50 and a twelve month high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -6.06 and a beta of 1.68.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Highview Capital Management LLC DE bought a new position in PureCycle Technologies in the 4th quarter worth about $324,000. Vanguard Group Inc. grew its stake in PureCycle Technologies by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock valued at $144,530,000 after buying an additional 758,382 shares during the last quarter. Drive Wealth Management LLC increased its holdings in shares of PureCycle Technologies by 767.7% during the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after purchasing an additional 272,527 shares during the period. US Bancorp DE increased its holdings in shares of PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after purchasing an additional 2,019 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of PureCycle Technologies by 6.1% during the 4th quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock worth $361,000 after purchasing an additional 2,033 shares during the period. 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.