PureCycle Technologies, Inc. (NYSE: PCT) Given Average Rating of “Buy” by Analysts


Shares of PureCycle Technologies, Inc. (NYSE: PCTGet Rating) have earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $ 24.00.

PCT has been the topic of a number of research analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $ 16.00 price objective on shares of PureCycle Technologies in a research report on Thursday, April 14th. Craig Hallum lowered their price objective on shares of PureCycle Technologies from $ 26.00 to $ 18.00 in a research report on Thursday, March 10th.

PureCycle Technologies stock opened at $ 9.30 on Friday. The firm’s 50-day simple moving average is $ 8.30 and its 200-day simple moving average is $ 8.56. The company has a market cap of $ 1.52 billion, a P / E ratio of -14.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 19.10 and a quick ratio of 19.10. PureCycle Technologies has a fifty-two week low of $ 4.94 and a fifty-two week high of $ 27.92.

PureCycle Technologies (NYSE: PCTGet Rating) last released its earnings results on Tuesday, March 29th. The company reported ($ 0.16) earnings per share for the quarter, topping the consensus estimate of ($ 0.19) by $ 0.03. On average, analysts expect that PureCycle Technologies will post -0.65 EPS for the current fiscal year.

In other PureCycle Technologies news, Director Jeffrey Richard Fieler purchased 714,284 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were acquired at an average price of $ 7.00 per share, for a total transaction of $ 4,999,988.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Warner Brenner sold 225,000 shares of PureCycle Technologies stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $ 7.86, for a total transaction of $ 1,768,500.00. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sylebra Capital Ltd raised its holdings in PureCycle Technologies by 61.1% in the 1st quarter. Sylebra Capital Ltd now owns 29,193,256 shares of the company’s stock worth $ 233,546,000 after acquiring an additional 11,071,400 shares during the period. BlackRock Inc. grew its position in PureCycle Technologies by 4.6% in the 1st quarter. BlackRock Inc. now owns 3,805,550 shares of the company’s stock worth $ 30,445,000 after purchasing an additional 168,485 shares during the last quarter. Samlyn Capital LLC grew its position in PureCycle Technologies by 0.8% in the 4th quarter. Samlyn Capital LLC now owns 3,667,203 shares of the company’s stock worth $ 35,096,000 after purchasing an additional 28,864 shares during the last quarter. Atalan Capital Partners LP grew its position in PureCycle Technologies by 148.2% in the 1st quarter. Atalan Capital Partners LP now owns 2,392,243 shares of the company’s stock worth $ 19,138,000 after purchasing an additional 1,428,570 shares during the last quarter. Finally, Howard Hughes Medical Institute grew its position in PureCycle Technologies by 35.7% in the 1st quarter. Howard Hughes Medical Institute now owns 1,628,570 shares of the company’s stock worth $ 13,029,000 after purchasing an additional 428,570 shares during the last quarter. Hedge funds and other institutional investors own 40.86% of the company’s stock.

About PureCycle Technologies (Get Rating)

PureCycle Technologies, Inc. produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.

Further Reading

Analyst Recommendations for PureCycle Technologies (NYSE: PCT)



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