PureCycle Technologies (NASDAQ:PCT) Upgraded to Strong-Buy at TD Cowen

PureCycle Technologies (NASDAQ:PCT - Get Free Report) was upgraded by investment analysts at TD Cowen to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Wall Street Zen raised PureCycle Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. 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

NASDAQ:PCT traded down $0.30 during mid-day trading on Monday, hitting $13.70. 7,261,789 shares of the company's stock traded hands, compared to its average volume of 2,710,907. The firm has a 50 day moving average of $9.51 and a two-hundred day moving average of $9.11. PureCycle Technologies has a 12 month low of $4.50 and a 12 month high of $15.58. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -11.71 and a beta of 1.80. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43.

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

Institutional Trading of PureCycle Technologies

Several institutional investors have recently modified their holdings of PCT. NBC Securities Inc. acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth approximately $25,000. Jones Financial Companies Lllp grew its holdings in shares of PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after purchasing an additional 2,291 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of PureCycle Technologies by 775.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock worth $33,000 after purchasing an additional 2,861 shares in the last quarter. CWM LLC grew its holdings in shares of PureCycle Technologies by 158.7% during the 1st quarter. CWM LLC now owns 4,960 shares of the company's stock worth $34,000 after purchasing an additional 3,043 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after buying an additional 2,019 shares during the period. Institutional investors and hedge funds 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.