PureCycle Technologies (NASDAQ:PCT) Trading Up 6.3% - What's Next?

Key Points

• PureCycle Technologies shares rose 6.3% to about $6.20, although trading volume was 71% below the average session level.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an $11.75 average price target; individual targets range from $12 to $16, while Weiss Ratings maintains a sell rating.
• The company reported weaker-than-expected quarterly results, including an adjusted loss of $0.80 per share versus the $0.29 consensus estimate and revenue of $4.51 million versus $6.11 million expected. Director Fernando Musa separately bought nearly $99,000 worth of shares.

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) were up 6.3% on Friday . The company traded as high as $6.23 and last traded at $6.1950. Approximately 1,347,699 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 4,710,307 shares. The stock had previously closed at $5.83.

Wall Street Analyst Weigh In

PCT has been the subject of several recent analyst reports. Northland Securities set a $13.00 price objective on PureCycle Technologies in a research report on Friday, June 12th. Cantor Fitzgerald decreased their target price on PureCycle Technologies from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of PureCycle Technologies in a research note on Wednesday, September 2nd. Finally, Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $11.75.

PureCycle Technologies Trading Up 6.3%

The business's 50 day simple moving average is $6.69 and its two-hundred day simple moving average is $7.63. The stock has a market cap of $1.24 billion, a P/E ratio of -4.24 and a beta of 2.57. The company has a quick ratio of 2.42, a current ratio of 2.60 and a debt-to-equity ratio of 27.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.51). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The firm had revenue of $4.51 million during the quarter, compared to the consensus estimate of $6.11 million. As a group, analysts expect that PureCycle Technologies, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling

In other news, Director Fernando Musa bought 15,479 shares of the company's stock in a transaction on Friday, September 4th. The stock was purchased at an average cost of $6.38 per share, for a total transaction of $98,756.02. Following the completion of the transaction, the director owned 175,983 shares of the company's stock, valued at $1,122,771.54. This trade represents a 9.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.80% of the company's stock.

Institutional Trading of PureCycle Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company's stock worth $34,000 after purchasing an additional 2,563 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of PureCycle Technologies in the 3rd quarter valued at about $35,000. SHP Wealth Management bought a new stake in shares of PureCycle Technologies in the 4th quarter valued at about $43,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PureCycle Technologies in the first quarter valued at about $33,000. Finally, Independent Advisor Alliance bought a new position in shares of PureCycle Technologies during the fourth quarter worth about $87,000. 63.01% of the stock is currently owned by institutional investors.

About PureCycle Technologies

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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