PureCycle Technologies (NASDAQ:PCT) Hits New 1-Year Low – Should You Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $5.12 and last traded at $5.42, with a volume of 13136961 shares. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

PCT has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Cantor Fitzgerald cut their price objective on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, TD Cowen restated a “hold” rating and issued a $9.00 target price (down from $16.00) on shares of PureCycle Technologies in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

PureCycle Technologies Stock Down 6.7%

The company has a debt-to-equity ratio of 7.62, a quick ratio of 2.15 and a current ratio of 2.26. The firm has a fifty day moving average price of $8.91 and a 200 day moving average price of $10.39. The firm has a market capitalization of $978.85 million, a price-to-earnings ratio of -4.48 and a beta of 2.07.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $6.37 million. PureCycle Technologies had a negative return on equity of 204.74% and a negative net margin of 2,185.10%. As a group, sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On PureCycle Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of PureCycle Technologies by 6,571.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after purchasing an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new stake in PureCycle Technologies during the third quarter worth about $35,000. SHP Wealth Management acquired a new position in PureCycle Technologies during the fourth quarter worth about $43,000. Farther Finance Advisors LLC grew 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 buying an additional 8,869 shares during the period. Finally, Bluefin Capital Management LLC purchased a new position in PureCycle Technologies in the second quarter valued at about $137,000. 63.01% of the stock is owned by institutional investors and hedge funds.

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.