Wall Street Zen Upgrades PureCycle Technologies (NASDAQ:PCT) to "Hold"

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

Separately, TD Cowen reduced 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

PureCycle Technologies Price Performance

NASDAQ:PCT traded down $0.33 during trading hours on Friday, hitting $11.34. 2,977,683 shares of the company's stock traded hands, compared to its average volume of 2,527,529. The firm has a market cap of $2.04 billion, a P/E ratio of -7.56 and a beta of 1.80. PureCycle Technologies has a 52 week low of $4.50 and a 52 week high of $15.58. The business's fifty day simple moving average is $8.05 and its two-hundred day simple moving average is $9.09. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $1.58 million during the quarter, compared to analysts' expectations of $4.27 million. On average, research analysts anticipate that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of PureCycle Technologies

A number of hedge funds have recently made changes to their positions in PCT. SWS Partners lifted its position in PureCycle Technologies by 2.8% in the 1st quarter. SWS Partners now owns 757,279 shares of the company's stock valued at $5,240,000 after acquiring an additional 20,547 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in PureCycle Technologies in the 1st quarter worth $277,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PureCycle Technologies by 9.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 284,860 shares of the company's stock worth $1,971,000 after buying an additional 23,609 shares in the last quarter. Sylebra Capital LLC boosted its holdings in shares of PureCycle Technologies by 1.9% during the 1st quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company's stock valued at $235,817,000 after purchasing an additional 619,925 shares during the last quarter. Finally, Samlyn Capital LLC boosted its holdings in shares of PureCycle Technologies by 19.1% during the 1st quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company's stock valued at $43,057,000 after purchasing an additional 997,337 shares during the last quarter. 63.01% of the stock is owned by 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.