Brokerages Set PureCycle Technologies, Inc. (NASDAQ:PCT) Price Target at $13.00

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $13.00.

Several research firms have commented on PCT. Cantor Fitzgerald lowered their target price on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. TD Cowen reissued a “hold” rating and set a $9.00 price target (down from $16.00) on shares of PureCycle Technologies in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Thursday, January 22nd.

Institutional Trading of PureCycle Technologies

A number of hedge funds have recently added to or reduced their stakes in PCT. Larson Financial Group LLC increased its stake 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 valued at $34,000 after acquiring an additional 2,563 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of PureCycle Technologies in the third quarter worth approximately $35,000. SHP Wealth Management acquired a new stake in shares of PureCycle Technologies in the fourth quarter worth approximately $43,000. Farther Finance Advisors LLC grew its holdings in PureCycle Technologies by 3,047.8% in the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock valued at $79,000 after purchasing an additional 8,869 shares during the period. Finally, Independent Advisor Alliance purchased a new stake in PureCycle Technologies in the fourth quarter valued at approximately $87,000. 63.01% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $5.89 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -4.87 and a beta of 2.07. The company has a current ratio of 2.26, a quick ratio of 2.15 and a debt-to-equity ratio of 7.62. The company’s 50-day moving average is $8.58 and its two-hundred day moving average is $10.17. PureCycle Technologies has a 12-month low of $5.12 and a 12-month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last issued 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 firm had revenue of $2.70 million for 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%. Research analysts expect 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.