PureCycle Technologies (NYSE:PCT) Stock Rating Reaffirmed by Stifel Nicolaus

PureCycle Technologies (NYSE:PCT)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a research note issued on Wednesday, Benzinga reports. They presently have a $7.00 price objective on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 28.21% from the company’s current price.

Separately, TD Cowen increased their price target on shares of PureCycle Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.90.

PureCycle Technologies Price Performance

Shares of PCT opened at $5.46 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average is $5.44 and its two-hundred day moving average is $4.98. PureCycle Technologies has a twelve month low of $2.38 and a twelve month high of $11.89. The firm has a market capitalization of $898.88 million, a PE ratio of -5.35 and a beta of 1.63.

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

Institutional Trading of PureCycle Technologies

Several large investors have recently bought and sold shares of the company. VitalStone Financial LLC boosted its position in shares of PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after buying an additional 5,900 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $40,000. Integrated Advisors Network LLC acquired a new stake in shares of PureCycle Technologies in the third quarter valued at approximately $56,000. Symphony Financial Ltd. Co. purchased a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $43,000. Finally, Fortis Group Advisors LLC acquired a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $67,000. Institutional investors and hedge funds 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.