PureCycle Technologies (NASDAQ:PCT) Trading Down 4.9% – What’s Next?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s share price fell 4.9% during trading on Wednesday . The company traded as low as $11.69 and last traded at $11.6920. 2,068,538 shares were traded during trading, a decline of 55% from the average session volume of 4,591,542 shares. The stock had previously closed at $12.29.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCT. Cantor Fitzgerald lowered their target price on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, February 27th. TD Cowen lowered their target price on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Thursday, January 22nd. Finally, Wall Street Zen cut PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

PureCycle Technologies Stock Down 0.1%

The company has a debt-to-equity ratio of 47.59, a quick ratio of 1.57 and a current ratio of 1.71. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -7.70 and a beta of 2.31. The business has a 50-day simple moving average of $7.24 and a 200-day simple moving average of $8.47.

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

Institutional Investors Weigh In On PureCycle Technologies

A number of hedge funds have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth about $33,000. Larson Financial Group LLC raised its position 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 acquired a new stake in shares of PureCycle Technologies during the 3rd quarter worth about $35,000. SHP Wealth Management acquired a new stake in shares of PureCycle Technologies during the 4th quarter worth about $43,000. Finally, Sigma Planning Corp acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.