PureCycle Technologies, Inc. (NYSE:PCT) Receives Average Rating of “Hold” from Brokerages

Shares of PureCycle Technologies, Inc. (NYSE:PCT) have been given an average rating of “Hold” by the six research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.75.

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

Insider Transactions at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCT. Patriot Financial Group Insurance Agency LLC lifted its position in shares of PureCycle Technologies by 7.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock valued at $159,000 after buying an additional 1,850 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of PureCycle Technologies by 11.4% during the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after purchasing an additional 1,910 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in shares of PureCycle Technologies by 6.7% during the second quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock worth $192,000 after purchasing an additional 2,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in PureCycle Technologies by 1.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company’s stock valued at $1,087,000 after buying an additional 2,083 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in PureCycle Technologies by 10.0% in the 2nd quarter. Arizona State Retirement System now owns 32,225 shares of the company’s stock worth $191,000 after buying an additional 2,918 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 2.1 %

NYSE PCT opened at $9.07 on Thursday. The stock has a market cap of $1.49 billion, a P/E ratio of -8.89 and a beta of 1.63. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. PureCycle Technologies has a 12-month low of $2.38 and a 12-month high of $10.68. The company has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $6.14.

PureCycle Technologies (NYSE:PCT) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). On average, analysts forecast that PureCycle Technologies will post -0.85 earnings per share for the current year.

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.