PureCycle Technologies (NASDAQ:PCT) Upgraded at Wall Street Zen

PureCycle Technologies (NASDAQ:PCT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Separately, TD Cowen lowered their price target on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.00.

PureCycle Technologies Price Performance

NASDAQ PCT traded up $2.25 during trading hours on Friday, reaching $14.12. The company's stock had a trading volume of 20,875,531 shares, compared to its average volume of 2,615,267. The firm's 50-day moving average price is $8.33 and its 200-day moving average price is $9.05. 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 has a 1 year low of $4.50 and a 1 year high of $15.58. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -12.07 and a beta of 1.80.

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 the consensus estimate of $4.27 million. On average, equities research analysts predict that PureCycle Technologies will post -1.01 EPS for the current fiscal year.

Institutional Trading of PureCycle Technologies

Several hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in shares of PureCycle Technologies by 0.4% during the 4th quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock worth $3,306,000 after acquiring an additional 1,330 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of PureCycle Technologies by 11.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company's stock worth $132,000 after acquiring an additional 1,352 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company's stock worth $253,000 after acquiring an additional 1,516 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of PureCycle Technologies by 11.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,049 shares of the company's stock worth $118,000 after acquiring an additional 1,753 shares in the last quarter. Finally, US Bancorp DE raised its holdings in PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after buying an additional 2,019 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.