PureCycle Technologies (NASDAQ:PCT) Lowered to "Sell" Rating by Wall Street Zen

Wall Street Zen cut shares of PureCycle Technologies (NASDAQ:PCT - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other equities research analysts have also weighed in on PCT. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 price objective (up from $12.00) on shares of PureCycle Technologies in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.50.

PureCycle Technologies Stock Performance

PureCycle Technologies stock traded up $0.03 on Friday, hitting $14.56. The company's stock had a trading volume of 3,425,000 shares, compared to its average volume of 2,750,787. PureCycle Technologies has a one year low of $4.50 and a one year high of $15.58. The firm has a market cap of $2.61 billion, a P/E ratio of -12.44 and a beta of 1.90. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The company has a fifty day moving average price of $10.54 and a 200-day moving average price of $9.21.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued 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 firm had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. On average, equities analysts anticipate that PureCycle Technologies will post -1.01 earnings per share for the current year.

Institutional Trading of PureCycle Technologies

Hedge funds have recently modified their holdings of the company. Apella Capital LLC boosted its holdings in shares of PureCycle Technologies by 27.3% in the 2nd quarter. Apella Capital LLC now owns 56,115 shares of the company's stock worth $815,000 after acquiring an additional 12,050 shares in the last quarter. SWS Partners raised 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 purchasing an additional 20,547 shares during the last quarter. Integrity Alliance LLC. acquired a new position in PureCycle Technologies in the first quarter worth $277,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in PureCycle Technologies by 9.0% in the first 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 purchasing an additional 23,609 shares in the last quarter. Finally, Sylebra Capital LLC grew its holdings in shares of PureCycle Technologies by 1.9% during the first quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company's stock worth $235,817,000 after purchasing an additional 619,925 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

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.