PureCycle Technologies (NASDAQ:PCT) Stock Price Down 8.2% – What’s Next?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s share price fell 8.2% during trading on Tuesday . The company traded as low as $5.38 and last traded at $5.4090. 1,383,267 shares traded hands during trading, a decline of 70% from the average session volume of 4,644,875 shares. The stock had previously closed at $5.89.

Analysts Set New Price Targets

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

PureCycle Technologies Stock Down 11.9%

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 company has a market capitalization of $936.77 million, a PE ratio of -4.28 and a beta of 2.07. The firm’s 50-day simple moving average is $8.58 and its 200 day simple moving average is $10.17.

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

Institutional Investors Weigh In On PureCycle Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in shares of PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after acquiring an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new position in PureCycle Technologies in the 3rd quarter valued at approximately $35,000. SHP Wealth Management acquired a new position in PureCycle Technologies during the fourth quarter worth $43,000. Farther Finance Advisors LLC raised its holdings 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 during the last quarter. Finally, Bluefin Capital Management LLC purchased a new stake in PureCycle Technologies during the second quarter worth $137,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.