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

Shares of PureCycle Technologies, Inc. (NYSE:PCT) have earned a consensus recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.75.

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

PureCycle Technologies Stock Up 3.1 %

PCT stock opened at $9.08 on Thursday. The stock has a 50-day simple moving average of $7.05 and a two-hundred day simple moving average of $6.10. PureCycle Technologies has a twelve month low of $2.38 and a twelve month high of $10.68. The firm has a market capitalization of $1.50 billion, a PE ratio of -8.90 and a beta of 1.60. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06.

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

Insider Activity

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PureCycle Technologies

A number of large investors have recently made changes to their positions in PCT. First National Bank of Omaha grew its holdings in shares of PureCycle Technologies by 1.0% during the 4th quarter. First National Bank of Omaha now owns 464,053 shares of the company’s stock worth $1,879,000 after acquiring an additional 4,395 shares during the period. Platform Technology Partners grew its position in shares of PureCycle Technologies by 302.1% in the 4th quarter. Platform Technology Partners now owns 130,549 shares of the company’s stock worth $529,000 after buying an additional 98,084 shares during the period. VitalStone Financial LLC increased its stake in shares of PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after acquiring an additional 5,900 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in PureCycle Technologies during the 4th quarter valued at about $964,000. Finally, Virtu Financial LLC bought a new stake in PureCycle Technologies during the fourth quarter worth about $202,000. 63.01% of the stock is currently owned by institutional investors.

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.