Analysts Set PureCycle Technologies, Inc. (NASDAQ:PCT) Target Price at $12.00

PureCycle Technologies, Inc. (NASDAQ:PCT) has been assigned a consensus rating of “Moderate Buy” from the four research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.00.

PCT has been the topic of several recent research reports. Wall Street Zen lowered shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Cantor Fitzgerald reduced their target price on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, June 5th. Finally, TD Cowen cut their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, May 8th.

Institutional Investors Weigh In On PureCycle Technologies

A number of institutional investors have recently modified their holdings of PCT. Royal Bank of Canada grew its position in shares of PureCycle Technologies by 62.4% during the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after buying an additional 400,520 shares during the last quarter. AQR Capital Management LLC grew its position in shares of PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock valued at $145,000 after buying an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after buying an additional 1,516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PureCycle Technologies by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock valued at $507,000 after buying an additional 3,161 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of PureCycle Technologies during the 1st quarter valued at about $3,770,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $9.89 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6.73 and a beta of 2.48. The firm’s fifty day simple moving average is $9.09 and its 200 day simple moving average is $8.74. PureCycle Technologies has a twelve month low of $4.93 and a twelve month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. As a group, equities research analysts expect that PureCycle Technologies will post -0.99 earnings per share for the current fiscal year.

PureCycle Technologies Company Profile

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.