PureCycle Technologies, Inc. (NYSE:PCT) Receives Average Rating of “Hold” from Brokerages

Shares of PureCycle Technologies, Inc. (NYSE:PCT) have received an average rating of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.70.

Separately, TD Cowen boosted their price target on PureCycle Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, June 25th.

PureCycle Technologies Stock Performance

NYSE PCT opened at $5.92 on Tuesday. The firm has a market capitalization of $974.61 million, a P/E ratio of -5.80 and a beta of 1.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.17 and a quick ratio of 1.17. PureCycle Technologies has a 1-year low of $2.38 and a 1-year high of $11.89. The business’s 50-day simple moving average is $5.40 and its 200-day simple moving average is $4.96.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.10). Equities analysts predict that PureCycle Technologies will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sylebra Capital LLC acquired a new position in PureCycle Technologies in the third quarter worth about $163,774,000. Abundance Wealth Counselors raised its holdings in shares of PureCycle Technologies by 21.0% during the first quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock worth $42,185,000 after purchasing an additional 1,178,570 shares during the period. Gladstone Institutional Advisory LLC boosted its holdings in shares of PureCycle Technologies by 17.4% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,117,948 shares of the company’s stock valued at $8,578,000 after buying an additional 313,928 shares during the period. Charles Schwab Investment Management Inc. raised its stake in PureCycle Technologies by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 992,377 shares of the company’s stock worth $5,567,000 after acquiring an additional 39,094 shares during the period. Finally, SWS Partners boosted its stake in PureCycle Technologies by 40.9% in the fourth quarter. SWS Partners now owns 877,924 shares of the company’s stock valued at $3,556,000 after acquiring an additional 255,019 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.