PureCycle Technologies (NASDAQ:PCT) Stock Price Down 7.9% – What’s Next?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s stock price fell 7.9% on Thursday . The stock traded as low as $6.56 and last traded at $6.4920. Approximately 395,274 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 4,953,840 shares. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, June 5th. Alembic Global Advisors set a $16.00 target price on PureCycle Technologies in a research note on Tuesday, June 16th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a report on Friday, June 12th. Wall Street Zen cut PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Finally, TD Cowen decreased their target price on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PureCycle Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

PureCycle Technologies Price Performance

The firm has a market capitalization of $1.17 billion, a PE ratio of -4.42 and a beta of 2.50. The business has a 50-day moving average of $9.80 and a 200 day moving average of $8.58. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. As a group, research analysts anticipate that PureCycle Technologies, Inc. will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of PureCycle Technologies by 62.4% during the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after purchasing an additional 400,520 shares during the period. AQR Capital Management LLC grew its position in PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after acquiring an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after buying an additional 1,516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PureCycle Technologies by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock worth $507,000 after purchasing an additional 3,161 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of PureCycle Technologies in the 1st quarter worth approximately $3,770,000. 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.