PureCycle Technologies (NASDAQ:PCT) Reaches New 1-Year High - Should You Buy?

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $15.67 and last traded at $15.37, with a volume of 2297189 shares traded. The stock had previously closed at $14.56.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCT shares. TD Cowen raised PureCycle Technologies to a "strong-buy" rating in a report on Monday, June 23rd. Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $16.00 target price (up previously from $12.00) on shares of PureCycle Technologies in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

PureCycle Technologies Stock Performance

The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -13.51 and a beta of 1.90. The stock has a 50 day moving average of $10.71 and a 200 day moving average of $9.25. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to analyst estimates of $4.27 million. As a group, analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PCT. NBC Securities Inc. bought a new position in PureCycle Technologies in the first quarter valued at about $25,000. Jones Financial Companies Lllp grew its position in PureCycle Technologies by 286.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after acquiring an additional 2,291 shares during the last quarter. Sterling Capital Management LLC grew its position in PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after acquiring an additional 2,861 shares during the last quarter. CWM LLC grew its position in PureCycle Technologies by 158.7% in the first quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after acquiring an additional 3,043 shares during the last quarter. Finally, US Bancorp DE grew its position in PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after acquiring an additional 2,019 shares during the last quarter. Institutional investors own 63.01% of the company's stock.

PureCycle Technologies Company Profile

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.