PureCycle Technologies (NASDAQ:PCT) Stock Price Down 6.8% – Here’s What Happened

PureCycle Technologies, Inc. (NASDAQ:PCT)’s share price traded down 6.8% on Tuesday . The stock traded as low as $5.10 and last traded at $5.0960. 840,711 shares changed hands during trading, a decline of 82% from the average session volume of 4,613,770 shares. The stock had previously closed at $5.47.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cantor Fitzgerald dropped their price target on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

PureCycle Technologies Stock Down 1.2%

The company has a quick ratio of 2.15, a current ratio of 2.26 and a debt-to-equity ratio of 7.62. The stock has a market cap of $985.34 million, a PE ratio of -4.52 and a beta of 2.10. The business has a 50 day moving average price of $7.13 and a 200 day moving average price of $9.51.

PureCycle Technologies (NASDAQ:PCT) last issued its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). PureCycle Technologies had a negative return on equity of 204.74% and a negative net margin of 2,185.10%.The company had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $6.37 million. Equities research analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Trading of PureCycle Technologies

A number of hedge funds have recently modified their holdings of PCT. Larson Financial Group LLC boosted its stake in shares of PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after buying an additional 2,563 shares during the last quarter. Advisory Services Network LLC purchased a new position in PureCycle Technologies during the third quarter worth approximately $35,000. SHP Wealth Management purchased a new position in PureCycle Technologies during the fourth quarter worth approximately $43,000. Farther Finance Advisors LLC boosted its position in PureCycle Technologies by 3,047.8% during the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock worth $79,000 after purchasing an additional 8,869 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in PureCycle Technologies during the fourth quarter worth approximately $87,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About PureCycle Technologies

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.