PureCycle Technologies (NASDAQ:PCT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of PureCycle Technologies (NASDAQ:PCT) from a sell rating to a hold rating in a research report released on Saturday morning.

Separately, TD Cowen decreased their price target on PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PureCycle Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

PureCycle Technologies Stock Up 4.7%

Shares of NASDAQ PCT opened at $11.87 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies has a 12-month low of $4.50 and a 12-month high of $15.58. The company has a market cap of $2.13 billion, a P/E ratio of -7.91 and a beta of 1.80. The stock has a fifty day moving average price of $8.18 and a 200 day moving average price of $9.02.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The company had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. Research analysts anticipate that PureCycle Technologies will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Duquesne Family Office LLC boosted its position in PureCycle Technologies by 111.3% during the 1st quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company’s stock worth $23,285,000 after acquiring an additional 1,772,342 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of PureCycle Technologies in the fourth quarter worth $13,859,000. Samlyn Capital LLC lifted its holdings in PureCycle Technologies by 19.1% in the first quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company’s stock worth $43,057,000 after purchasing an additional 997,337 shares during the period. Vanguard Group Inc. lifted its holdings in PureCycle Technologies by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock worth $144,530,000 after purchasing an additional 758,382 shares during the period. Finally, Huntleigh Advisors Inc. acquired a new stake in PureCycle Technologies in the first quarter worth about $4,844,000. 63.01% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.