PureCycle Technologies (NASDAQ:PCT - Get Free Report) had its price target lowered by stock analysts at TD Cowen from $15.00 to $13.00 in a research note issued on Thursday, Marketbeat reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective indicates a potential upside of 60.49% from the company's previous close.
PureCycle Technologies Price Performance
Shares of PureCycle Technologies stock traded down $0.03 during trading on Thursday, reaching $8.10. The company's stock had a trading volume of 1,805,223 shares, compared to its average volume of 2,373,275. The company has a market capitalization of $1.45 billion, a P/E ratio of -5.40 and a beta of 1.68. PureCycle Technologies has a 12-month low of $4.50 and a 12-month high of $15.58. The business has a 50 day moving average price of $6.96 and a 200-day moving average price of $9.51. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. As a group, sell-side analysts anticipate that PureCycle Technologies will post -1.01 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new position in PureCycle Technologies during the first quarter worth approximately $182,000. Nuveen LLC purchased a new stake in PureCycle Technologies during the first quarter valued at about $2,306,000. Swiss National Bank raised its holdings in shares of PureCycle Technologies by 5.6% in the 1st quarter. Swiss National Bank now owns 252,200 shares of the company's stock worth $1,745,000 after purchasing an additional 13,400 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of PureCycle Technologies by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,142,943 shares of the company's stock worth $7,909,000 after purchasing an additional 5,643 shares during the period. Finally, Vanguard Group Inc. increased its position in PureCycle Technologies by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company's stock worth $102,149,000 after purchasing an additional 660,837 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.
PureCycle Technologies Company Profile
(
Get Free Report)
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.
Read More
Before you consider PureCycle Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PureCycle Technologies wasn't on the list.
While PureCycle Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
