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

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received an average recommendation of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.00.

PCT has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. TD Cowen reiterated a “hold” rating and issued a $9.00 price objective (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Finally, Cantor Fitzgerald decreased their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday.

Institutional Investors Weigh In On PureCycle Technologies

A number of institutional investors have recently made changes to their positions in the business. Appian Way Asset Management LP raised its position in PureCycle Technologies by 1.4% in the 3rd quarter. Appian Way Asset Management LP now owns 4,315,655 shares of the company’s stock worth $56,751,000 after purchasing an additional 59,676 shares during the period. Geode Capital Management LLC grew its stake in shares of PureCycle Technologies by 2.2% during the second quarter. Geode Capital Management LLC now owns 3,391,126 shares of the company’s stock valued at $46,465,000 after buying an additional 71,401 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of PureCycle Technologies by 1.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 3,243,160 shares of the company’s stock valued at $42,648,000 after buying an additional 44,817 shares during the last quarter. Simplify Asset Management Inc. increased its holdings 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 worth $16,609,000 after buying an additional 1,342,955 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of PureCycle Technologies by 41.8% in the 4th quarter. Royal Bank of Canada now owns 1,671,756 shares of the company’s stock valued at $14,361,000 after acquiring an additional 492,975 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Up 2.2%

Shares of PCT opened at $6.45 on Tuesday. PureCycle Technologies has a 1-year low of $5.40 and a 1-year high of $17.37. The company has a market capitalization of $1.16 billion, a P/E ratio of -5.33 and a beta of 2.05. The company has a debt-to-equity ratio of 7.62, a current ratio of 2.26 and a quick ratio of 2.15. The firm’s 50 day simple moving average is $9.61 and its 200 day simple moving average is $10.97.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). The company had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $6.37 million. PureCycle Technologies had a negative return on equity of 204.74% and a negative net margin of 2,185.10%. Sell-side analysts forecast that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

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.