PureCycle Technologies, Inc. (NASDAQ:PCT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PureCycle Technologies, Inc. (NASDAQ:PCT) has been given a consensus recommendation of “Moderate Buy” by the four ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.6667.

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. 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 report on Monday, November 24th.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $9.87 on Friday. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -6.76 and a beta of 2.05. The business has a 50-day simple moving average of $9.63 and a two-hundred day simple moving average of $11.67. PureCycle Technologies has a fifty-two week low of $5.40 and a fifty-two week high of $17.37.

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

Institutional Investors Weigh In On PureCycle Technologies

A number of large investors have recently made changes to their positions in PCT. Anthracite Investment Company Inc. bought a new stake in PureCycle Technologies in the 2nd quarter valued at $2,932,000. Forum Financial Management LP grew its position in shares of PureCycle Technologies by 66.7% during the second quarter. Forum Financial Management LP now owns 125,000 shares of the company’s stock valued at $1,712,000 after purchasing an additional 50,000 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in shares of PureCycle Technologies in the third quarter worth about $1,831,000. Fortitude Advisory Group L.L.C. increased its holdings in shares of PureCycle Technologies by 218.2% in the second quarter. Fortitude Advisory Group L.L.C. now owns 70,000 shares of the company’s stock worth $959,000 after purchasing an additional 48,000 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new stake in shares of PureCycle Technologies in the second quarter worth about $411,000. 63.01% of the stock is currently 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.