PureCycle Technologies (NASDAQ:PCT) Stock Price Up 7.6% - Still a Buy?

Key Points

• PureCycle Technologies shares rose 7.6% to about $6.85, although trading volume was 87% below the average session volume.
• Analyst views are mixed, but the stock carries a consensus “Moderate Buy” rating with an average price target of $12.25, well above its recent price.
• The company beat quarterly EPS and revenue estimates, but remains deeply unprofitable, with a negative net margin of 2,062.36% and analysts expecting a full-year loss.

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) were up 7.6% during trading on Monday . The company traded as high as $6.86 and last traded at $6.8530. 647,191 shares were traded during mid-day trading, a decline of 87% from the average session volume of 4,863,830 shares. The stock had previously closed at $6.37.

Analyst Upgrades and Downgrades

PCT has been the topic of several recent analyst reports. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a report on Friday, June 12th. Weiss Ratings restated a "sell (e+)" rating on shares of PureCycle Technologies in a report on Friday, June 5th. TD Cowen cut their target price on shares of PureCycle Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Friday, May 8th. Wall Street Zen lowered shares of PureCycle Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, May 10th. Finally, Alembic Global Advisors set a $16.00 price target on shares of PureCycle Technologies in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.25.

PureCycle Technologies Stock Performance

The business has a fifty day simple moving average of $8.61 and a 200-day simple moving average of $8.32. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 47.59. The firm has a market cap of $1.24 billion, a P/E ratio of -4.63 and a beta of 2.50.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $4.13 million during the quarter, compared to analyst estimates of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. On average, sell-side analysts predict that PureCycle Technologies, Inc. will post -1 EPS for the current fiscal year.

Institutional Investors Weigh In On PureCycle Technologies

Several hedge funds have recently bought and sold shares of PCT. Royal Bank of Canada lifted its holdings in shares of PureCycle Technologies by 62.4% during the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company's stock valued at $7,213,000 after purchasing an additional 400,520 shares during the last quarter. AQR Capital Management LLC increased its position in PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company's stock valued at $145,000 after buying an additional 8,478 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company's stock valued at $253,000 after buying an additional 1,516 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PureCycle Technologies by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company's stock valued at $507,000 after buying an additional 3,161 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in PureCycle Technologies during the first quarter valued at $3,770,000. Institutional investors 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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