PureCycle Technologies (NASDAQ:PCT) Receives Sell (D-) Rating from Weiss Ratings

PureCycle Technologies (NASDAQ:PCT - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

A number of other research firms have also recently commented on PCT. Cantor Fitzgerald reissued an "overweight" rating and set a $16.00 target price on shares of PureCycle Technologies in a research note on Friday, August 8th. Cowen reiterated a "buy" rating on shares of PureCycle Technologies in a report on Friday, August 8th. Northland Capmk upgraded shares of PureCycle Technologies to a "strong-buy" rating in a report on Tuesday, August 26th. Northland Securities assumed coverage on shares of PureCycle Technologies in a report on Wednesday, August 27th. They issued an "outperform" rating and a $16.00 target price on the stock. Finally, Wall Street Zen lowered shares of PureCycle Technologies from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, PureCycle Technologies currently has an average rating of "Buy" and a consensus target price of $15.00.

PureCycle Technologies Trading Down 0.3%

NASDAQ PCT opened at $13.10 on Friday. PureCycle Technologies has a 1 year low of $5.40 and a 1 year high of $17.37. The company has a debt-to-equity ratio of 3.54, a current ratio of 2.14 and a quick ratio of 2.07. The company has a fifty day moving average of $13.56 and a 200 day moving average of $11.88. The company has a market capitalization of $2.36 billion, a PE ratio of -7.75 and a beta of 2.01.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The business had revenue of $1.65 million for the quarter, compared to the consensus estimate of $4.10 million. Research analysts forecast that PureCycle Technologies will post -1.01 earnings per share for the current year.

Institutional Trading of PureCycle Technologies

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its stake in shares of PureCycle Technologies by 278.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company's stock worth $35,000 after acquiring an additional 1,891 shares during the period. CWM LLC increased its holdings in shares of PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after purchasing an additional 3,043 shares in the last quarter. KBC Group NV purchased a new position in shares of PureCycle Technologies in the 1st quarter valued at about $41,000. Kathmere Capital Management LLC purchased a new position in shares of PureCycle Technologies in the 1st quarter valued at about $69,000. Finally, Bluefin Capital Management LLC purchased a new position in shares of PureCycle Technologies in the 2nd quarter valued at about $137,000. 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.

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