TD Cowen Lowers PureCycle Technologies (NASDAQ:PCT) Price Target to $6.00

Key Points

• TD Cowen cut its price target on PureCycle (NASDAQ:PCT) from $7.00 to $6.00 and kept a "hold" rating, implying roughly a 33% downside from the current price.
• Analyst views are mixed—one Strong Buy, one Buy, one Hold and one Sell—but the consensus remains a "Moderate Buy" with a collective price target of $12.00, even as other firms have trimmed targets (e.g., Cantor Fitzgerald to $14).
• Recent quarter showed EPS of -$0.21 (beat -$0.26 est.) on $4.13M revenue, while the company carries high leverage (debt-to-equity 7.62) and very negative margins/ROE; shares opened at $8.95 with a market cap of about $1.62B.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) had its price target reduced by stock analysts at TD Cowen from $7.00 to $6.00 in a note issued to investors on Friday. The firm currently has a "hold" rating on the stock. TD Cowen's price target indicates a potential downside of 32.97% from the company's current price.

PCT has been the subject of a number of other research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of PureCycle Technologies from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Cantor Fitzgerald reduced their price target on shares of PureCycle Technologies from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, PureCycle Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

PureCycle Technologies Stock Up 0.1%

Shares of PCT stock opened at $8.95 on Friday. The company has a debt-to-equity ratio of 7.62, a quick ratio of 2.15 and a current ratio of 2.26. The stock has a market cap of $1.62 billion, a PE ratio of -6.09 and a beta of 2.31. The business's fifty day moving average is $6.30 and its 200-day moving average is $8.58. PureCycle Technologies has a 1 year low of $4.93 and a 1 year high of $17.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.05. PureCycle Technologies had a negative return on equity of 305.03% and a negative net margin of 2,062.36%.The firm had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.83 million. Equities analysts expect that PureCycle Technologies will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of PureCycle Technologies

Several large investors have recently modified their holdings of PCT. Simplify Asset Management Inc. grew its position in shares of PureCycle Technologies by 227.4% in the fourth quarter. Simplify Asset Management Inc. now owns 1,933,564 shares of the company's stock valued at $16,609,000 after purchasing an additional 1,342,955 shares during the last quarter. HRT Financial LP grew its stake in shares of PureCycle Technologies by 208.2% in the fourth quarter. HRT Financial LP now owns 1,072,543 shares of the company's stock worth $9,213,000 after acquiring an additional 724,495 shares during the last quarter. Indivisible Partners acquired a new position in PureCycle Technologies during the 4th quarter valued at $5,803,000. Millennium Management LLC bought a new stake in PureCycle Technologies in the 1st quarter valued at $3,770,000. Finally, Bank of America Corp DE increased its holdings in shares of PureCycle Technologies by 583.2% during the 3rd quarter. Bank of America Corp DE now owns 623,293 shares of the company's stock worth $8,196,000 after purchasing an additional 532,062 shares during the period. 63.01% of the stock is owned by institutional investors.

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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