PureCycle Technologies, Inc. (NYSE:PCT) Given Consensus Recommendation of “Hold” by Analysts

PureCycle Technologies, Inc. (NYSE:PCT) has received a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.75.

A number of research firms recently issued reports on PCT. Stifel Nicolaus boosted their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Craig Hallum increased their price objective on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, TD Cowen raised their target price on PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Institutional Trading of PureCycle Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. VitalStone Financial LLC raised its position in PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock valued at $38,000 after buying an additional 5,900 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $40,000. National Bank of Canada FI raised its holdings in shares of PureCycle Technologies by 45.8% in the fourth quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock valued at $52,000 after purchasing an additional 4,388 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of PureCycle Technologies during the fourth quarter valued at about $54,000. Finally, Fortis Group Advisors LLC purchased a new position in PureCycle Technologies during the first quarter worth about $67,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Down 0.5 %

Shares of PureCycle Technologies stock opened at $5.64 on Wednesday. The firm has a market cap of $928.52 million, a price-to-earnings ratio of -5.53 and a beta of 1.62. PureCycle Technologies has a one year low of $2.38 and a one year high of $9.93. The stock’s 50-day moving average is $6.13 and its 200 day moving average is $5.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54.

About PureCycle Technologies

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.