PureCycle Technologies, Inc. (NASDAQ:PCT) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• PureCycle Technologies has a consensus analyst rating of “Moderate Buy” from four covering firms, with an average 12-month price target of $12.25.
• The stock was trading at $6.01, down 4.1%, and remains well below its 12-month high of $16.00.
• In its latest quarterly report, PureCycle beat expectations with EPS of -$0.21 versus an estimated -$0.26 and revenue of $4.13 million versus $3.83 million expected.

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) has received a consensus rating of "Moderate Buy" from the four research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.25.

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of PureCycle Technologies in a research report on Friday, June 5th. TD Cowen cut their price target on shares of PureCycle Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, May 8th. Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Northland Securities set a $13.00 price objective on shares of PureCycle Technologies in a report on Friday, June 12th. Finally, Wall Street Zen downgraded shares of PureCycle Technologies from a "sell" rating to a "strong sell" rating in a research report on Sunday, May 10th.

Hedge Funds Weigh In On PureCycle Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Focused Wealth Management Inc raised its position in shares of PureCycle Technologies by 7.1% during the 4th quarter. Focused Wealth Management Inc now owns 15,005 shares of the company's stock worth $129,000 after buying an additional 1,000 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of PureCycle Technologies by 4.3% in the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company's stock valued at $253,000 after acquiring an additional 1,516 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of PureCycle Technologies by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 23,738 shares of the company's stock valued at $204,000 after acquiring an additional 1,526 shares in the last quarter. Lido Advisors LLC increased its stake in shares of PureCycle Technologies by 5.0% during the third quarter. Lido Advisors LLC now owns 32,824 shares of the company's stock valued at $432,000 after acquiring an additional 1,574 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of PureCycle Technologies by 1.7% during the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company's stock valued at $574,000 after acquiring an additional 1,823 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Stock Down 4.1%

Shares of NASDAQ PCT opened at $6.01 on Friday. PureCycle Technologies has a 12-month low of $4.93 and a 12-month high of $16.00. The company has a market capitalization of $1.09 billion, a PE ratio of -4.09 and a beta of 2.50. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. The firm's 50-day moving average is $9.32 and its two-hundred day moving average is $8.47.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.05. The business had revenue of $4.13 million during the quarter, compared to analyst estimates of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. Equities analysts anticipate that PureCycle Technologies will post -1 EPS for the current fiscal year.

PureCycle Technologies Company Profile

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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