PureCycle Technologies, Inc. (NASDAQ:PCT) Receives Average Recommendation of “Moderate Buy” from Brokerages

PureCycle Technologies, Inc. (NASDAQ:PCT) has received a consensus rating of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.50.

Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. TD Cowen boosted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their target price on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

PureCycle Technologies Stock Performance

Shares of NASDAQ PCT opened at $10.85 on Tuesday. PureCycle Technologies has a one year low of $2.38 and a one year high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -7.23 and a beta of 1.53. The stock’s fifty day moving average price is $12.20 and its two-hundred day moving average price is $8.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PCT. Algert Global LLC bought a new position in PureCycle Technologies in the second quarter valued at about $69,000. Park Edge Advisors LLC acquired a new stake in shares of PureCycle Technologies during the third quarter valued at about $100,000. Hsbc Holdings PLC lifted its stake in shares of PureCycle Technologies by 11.4% in the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after acquiring an additional 1,910 shares during the period. Fortis Group Advisors LLC lifted its stake in shares of PureCycle Technologies by 12.5% in the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after acquiring an additional 1,376 shares during the period. Finally, Prospera Private Wealth LLC lifted its stake in shares of PureCycle Technologies by 35.9% in the third quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock worth $147,000 after acquiring an additional 4,080 shares during the period. 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.