PureCycle Technologies (NASDAQ:PCT) Trading Up 6.7% – Still a Buy?

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) shot up 6.7% on Thursday . The company traded as high as $5.88 and last traded at $5.8450. 2,172,787 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 4,624,870 shares. The stock had previously closed at $5.48.

Analyst Upgrades and Downgrades

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

PureCycle Technologies Stock Performance

The business has a 50-day simple moving average of $8.84 and a 200 day simple moving average of $10.36. The company has a debt-to-equity ratio of 7.62, a current ratio of 2.26 and a quick ratio of 2.15. The firm has a market cap of $1.03 billion, a PE ratio of -4.72 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. Equities research analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Institutional Trading of PureCycle Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted 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 valued at $34,000 after buying an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new stake in PureCycle Technologies in the 3rd quarter worth $35,000. SHP Wealth Management bought a new stake in PureCycle Technologies during the fourth quarter valued at about $43,000. Farther Finance Advisors LLC lifted its position in shares of PureCycle Technologies by 3,047.8% in the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock valued at $79,000 after acquiring an additional 8,869 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of PureCycle Technologies in the fourth quarter valued at about $87,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.