Cantor Fitzgerald Has Lowered Expectations for PureCycle Technologies (NASDAQ:PCT) Stock Price

PureCycle Technologies (NASDAQ:PCT) had its price objective decreased by equities research analysts at Cantor Fitzgerald from $16.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 91.68% from the company’s current price.

PCT has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. TD Cowen reissued a “hold” rating and issued a $9.00 price target (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.00.

PureCycle Technologies Stock Down 10.0%

PCT opened at $7.30 on Friday. The company has a market cap of $1.32 billion, a PE ratio of -5.00 and a beta of 2.05. The company has a quick ratio of 2.15, a current ratio of 2.24 and a debt-to-equity ratio of 5.21. The business has a 50 day moving average price of $9.71 and a two-hundred day moving average price of $11.10. PureCycle Technologies has a 52 week low of $5.40 and a 52 week high of $17.37.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in PureCycle Technologies by 278.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock valued at $35,000 after acquiring an additional 1,891 shares during the last quarter. Larson Financial Group LLC raised its position in shares of PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after purchasing an additional 2,563 shares during the last quarter. Advisory Services Network LLC purchased a new stake in PureCycle Technologies in the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its position in PureCycle Technologies by 3,047.8% during the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock worth $79,000 after buying an additional 8,869 shares in the last quarter. Finally, Bluefin Capital Management LLC purchased a new position in PureCycle Technologies during the second quarter worth $137,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About PureCycle Technologies

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.