Roth Capital Has Negative Estimate for PCT FY2024 Earnings

PureCycle Technologies, Inc. (NASDAQ:PCT) – Investment analysts at Roth Capital cut their FY2024 EPS estimates for PureCycle Technologies in a report issued on Wednesday, February 26th. Roth Capital analyst G. Sweeney now forecasts that the company will post earnings per share of ($1.03) for the year, down from their prior estimate of ($0.84). The consensus estimate for PureCycle Technologies’ current full-year earnings is ($1.01) per share. Roth Capital also issued estimates for PureCycle Technologies’ Q4 2024 earnings at ($0.17) EPS, Q1 2025 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS and FY2025 earnings at ($0.36) EPS.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.32).

PCT has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, November 19th. TD Cowen lifted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus lifted their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

PureCycle Technologies Trading Down 2.6 %

NASDAQ:PCT opened at $9.12 on Monday. PureCycle Technologies has a 12 month low of $4.50 and a 12 month high of $15.58. The firm has a fifty day simple moving average of $9.67 and a 200-day simple moving average of $9.99. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.58 billion, a P/E ratio of -6.08 and a beta of 1.58.

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highview Capital Management LLC DE purchased a new position in PureCycle Technologies in the fourth quarter valued at $324,000. Sylebra Capital LLC increased its holdings in PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after buying an additional 4,264,393 shares in the last quarter. Verus Capital Partners LLC increased its holdings in PureCycle Technologies by 465.8% in the third quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after buying an additional 105,000 shares in the last quarter. IHT Wealth Management LLC purchased a new position in PureCycle Technologies in the third quarter valued at $485,000. Finally, Drive Wealth Management LLC increased its holdings in PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after buying an additional 272,527 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About PureCycle Technologies

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.