PureCycle Technologies (NASDAQ:PCT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded PureCycle from a "strong sell" to a "sell," though the stock's consensus remains an average rating of "Moderate Buy" with an average target price of $13 and mixed analyst views (Cantor Fitzgerald cut its target to $14 but kept an "overweight").
• PureCycle missed quarterly expectations, reporting EPS of ($0.42) vs. ($0.25) expected and revenue of $2.70M vs. $6.37M expected, and showing extremely negative profitability metrics (net margin -2,185.10% and ROE -204.74%); analysts forecast about -0.96 EPS for the current fiscal year.
• The stock opened at $7.86 with a market cap of $1.42 billion, a 52-week range of $4.93–$17.37, a 50-day SMA ($6.34) below the 200-day SMA ($8.78) signaling a recent pullback, and roughly 63% institutional ownership.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PureCycle Technologies in a report on Thursday, January 22nd. Cantor Fitzgerald decreased their price objective on shares of PureCycle Technologies from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.00.

PureCycle Technologies Stock Performance

PCT opened at $7.86 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.26 and a debt-to-equity ratio of 7.62. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -6.50 and a beta of 2.31. PureCycle Technologies has a 52-week low of $4.93 and a 52-week high of $17.37. The firm's fifty day simple moving average is $6.34 and its two-hundred day simple moving average is $8.78.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The company had revenue of $2.70 million for the quarter, compared to analysts' expectations of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. Equities analysts anticipate that PureCycle Technologies will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PureCycle Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hohimer Wealth Management LLC acquired a new stake in PureCycle Technologies during the third quarter worth about $6,452,000. SWS Partners increased its position in PureCycle Technologies by 31.9% during the fourth quarter. SWS Partners now owns 988,463 shares of the company's stock worth $8,491,000 after purchasing an additional 238,947 shares during the last quarter. Fiscal Wisdom Wealth Management LLC acquired a new stake in PureCycle Technologies during the third quarter worth about $2,798,000. Principal Financial Group Inc. acquired a new stake in PureCycle Technologies during the third quarter worth about $890,000. Finally, First National Bank of Omaha acquired a new stake in PureCycle Technologies during the third quarter worth about $2,684,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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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