Analysts Set PureCycle Technologies, Inc. (NASDAQ:PCT) Target Price at $13.67

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.6667.

Several equities analysts have commented on the company. TD Cowen reaffirmed a “hold” rating and issued a $9.00 price objective (down previously from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Seaport Res Ptn raised shares of PureCycle Technologies to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday, October 8th.

Institutional Trading of PureCycle Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fourpath Capital Management LLC grew its position in PureCycle Technologies by 2.7% during the 2nd quarter. Fourpath Capital Management LLC now owns 25,131 shares of the company’s stock worth $344,000 after purchasing an additional 670 shares during the last quarter. Lake Hills Wealth Management LLC lifted its stake in shares of PureCycle Technologies by 1.3% during the third quarter. Lake Hills Wealth Management LLC now owns 67,148 shares of the company’s stock worth $883,000 after buying an additional 878 shares during the period. First National Advisers LLC grew its holdings in shares of PureCycle Technologies by 0.4% during the third quarter. First National Advisers LLC now owns 212,791 shares of the company’s stock valued at $2,799,000 after buying an additional 932 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its position in shares of PureCycle Technologies by 6.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 24,787 shares of the company’s stock valued at $326,000 after acquiring an additional 1,395 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of PureCycle Technologies by 7.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 20,348 shares of the company’s stock valued at $279,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $10.03 on Monday. The company has a debt-to-equity ratio of 5.21, a current ratio of 2.24 and a quick ratio of 2.15. The firm has a market capitalization of $1.81 billion, a P/E ratio of -6.87 and a beta of 2.03. PureCycle Technologies has a 1-year low of $5.40 and a 1-year high of $17.37. The company’s 50-day moving average is $9.06 and its 200 day moving average is $12.12.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.19). The business had revenue of $2.43 million during the quarter, compared to analyst estimates of $6.04 million. Research analysts forecast that PureCycle Technologies will post -1.01 EPS for the current year.

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.