PureCycle Technologies, Inc. (NYSE:PCT) Given Consensus Rating of “Hold” by Analysts

Shares of PureCycle Technologies, Inc. (NYSE:PCT) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.75.

Several equities research analysts recently commented on PCT shares. Stifel Nicolaus boosted their price objective on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. TD Cowen upped their price target on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Craig Hallum raised their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, August 9th.

Institutional Investors Weigh In On PureCycle Technologies

A number of institutional investors have recently made changes to their positions in the company. VitalStone Financial LLC lifted its position in PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock valued at $38,000 after acquiring an additional 5,900 shares in the last quarter. National Bank of Canada FI raised its stake in shares of PureCycle Technologies by 45.8% in the fourth quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock worth $52,000 after purchasing an additional 4,388 shares during the last quarter. Fortis Group Advisors LLC bought a new position in shares of PureCycle Technologies during the first quarter valued at $67,000. Victory Capital Management Inc. boosted its position in shares of PureCycle Technologies by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock valued at $69,000 after buying an additional 3,128 shares during the last quarter. Finally, Algert Global LLC bought a new stake in PureCycle Technologies in the 2nd quarter worth about $69,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Up 18.3 %

NYSE PCT opened at $8.00 on Friday. The firm has a market capitalization of $1.32 billion, a PE ratio of -7.84 and a beta of 1.61. The stock’s 50 day moving average is $6.13 and its 200 day moving average is $5.73. PureCycle Technologies has a twelve month low of $2.38 and a twelve month high of $8.00. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06.

PureCycle Technologies (NYSE:PCT) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). Research analysts forecast that PureCycle Technologies will post -0.87 earnings per share for the current fiscal year.

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.