PureCycle Technologies (NASDAQ:PCT) Shares Up 7.9% - Here's What Happened

Key Points

• Shares rose 7.9% mid-day to about $11.21 (intraday high $10.86) on Wednesday, while trading volume was 1,147,341 shares — roughly 71% below the average session volume.
• Analyst views are mixed but mildly positive: the consensus rating is "Moderate Buy" with a $13.67 average price target, and individual ratings range from Strong Buy to Sell.
• Fundamentals show weakness: the company reported an EPS of ($0.44) versus ($0.25) expected and revenue of $2.43M versus $6.04M expected, while PureCycle (market cap $2.01B) operates a P&G‑licensed process to restore waste polypropylene into "virgin-like" resin.

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report)'s share price shot up 7.9% during mid-day trading on Wednesday . The stock traded as high as $10.86 and last traded at $11.2120. 1,147,341 shares were traded during mid-day trading, a decline of 71% from the average session volume of 3,926,494 shares. The stock had previously closed at $10.39.

Wall Street Analyst Weigh In

PCT has been the topic of a number of recent analyst reports. TD Cowen reissued a "hold" rating and issued a $9.00 price objective (down from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Seaport Res Ptn upgraded PureCycle Technologies to a "strong-buy" rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of PureCycle Technologies in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $13.67.

PureCycle Technologies Price Performance

The firm has a market capitalization of $2.01 billion, a P/E ratio of -7.60 and a beta of 2.03. The stock's fifty day simple moving average is $9.06 and its 200 day simple moving average is $12.07. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.24 and a quick ratio of 2.15.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.19). The firm had revenue of $2.43 million for the quarter, compared to analyst estimates of $6.04 million. On average, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Institutional Trading of PureCycle Technologies

A number of institutional investors have recently made changes to their positions in the business. Occidental Asset Management LLC acquired a new position in PureCycle Technologies during the 4th quarter valued at about $109,000. Sovereign Financial Group Inc. grew its stake in shares of PureCycle Technologies by 20.4% during the fourth quarter. Sovereign Financial Group Inc. now owns 27,499 shares of the company's stock worth $236,000 after acquiring an additional 4,650 shares during the last quarter. Advance Capital Management Inc. increased its holdings in shares of PureCycle Technologies by 14.3% during the fourth quarter. Advance Capital Management Inc. now owns 17,713 shares of the company's stock valued at $152,000 after acquiring an additional 2,213 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of PureCycle Technologies in the 3rd quarter valued at approximately $182,000. Finally, Advisory Services Network LLC purchased a new position in shares of PureCycle Technologies in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.

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