PureCycle Technologies, Inc. (NYSE:PCT) Given Consensus Recommendation of "Hold" by Brokerages

Shares of PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report) have been assigned a consensus rating of "Hold" from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.75.

Several analysts have weighed in on PCT shares. TD Cowen boosted their price target on PureCycle Technologies from $7.50 to $10.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Craig Hallum boosted their price target on PureCycle Technologies from $4.00 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on PureCycle Technologies from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Monday.

Hedge Funds Weigh In On PureCycle Technologies

A number of large investors have recently bought and sold shares of the business. VitalStone Financial LLC raised its holdings in shares of PureCycle Technologies by 163.9% during the fourth quarter. VitalStone Financial LLC now owns 9,500 shares of the company's stock valued at $38,000 after acquiring an additional 5,900 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of PureCycle Technologies during the fourth quarter valued at approximately $40,000. Fortis Group Advisors LLC acquired a new position in shares of PureCycle Technologies during the first quarter valued at approximately $67,000. Tidal Investments LLC acquired a new position in shares of PureCycle Technologies during the first quarter valued at approximately $70,000. Finally, Drive Wealth Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Stock Performance

PureCycle Technologies stock traded up $0.19 during trading hours on Wednesday, hitting $5.84. 1,525,583 shares of the stock traded hands, compared to its average volume of 2,188,470. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. The firm's 50 day moving average price is $6.12 and its 200-day moving average price is $5.59. The stock has a market capitalization of $961.45 million, a price-to-earnings ratio of -5.73 and a beta of 1.62. PureCycle Technologies has a 1 year low of $2.38 and a 1 year high of $10.88.

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.