Q3 Earnings Estimate for PCT Issued By Roth Capital

PureCycle Technologies, Inc. (NASDAQ:PCT) – Roth Capital issued their Q3 2024 earnings per share (EPS) estimates for PureCycle Technologies in a research report issued to clients and investors on Wednesday, November 6th. Roth Capital analyst G. Sweeney expects that the company will earn ($0.13) per share for the quarter. The consensus estimate for PureCycle Technologies’ current full-year earnings is ($1.17) per share. Roth Capital also issued estimates for PureCycle Technologies’ Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.84) EPS and FY2025 earnings at ($0.30) EPS.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald assumed coverage on PureCycle Technologies in a research note on Friday, October 18th. They issued an “overweight” rating and a $14.00 price target on the stock. Craig Hallum increased their target price on PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. TD Cowen increased their target price on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus increased 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.20.

PureCycle Technologies Price Performance

Shares of PCT stock opened at $11.96 on Friday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -12.46 and a beta of 1.56. The business’s fifty day moving average is $9.74 and its 200 day moving average is $7.16. PureCycle Technologies has a twelve month low of $2.38 and a twelve month high of $15.58. 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 (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.13).

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Longview Asset Management LLC purchased a new stake in PureCycle Technologies during the second quarter valued at approximately $57,521,000. Simplify Asset Management Inc. increased its stake in shares of PureCycle Technologies by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after purchasing an additional 713,664 shares in the last quarter. Van ECK Associates Corp bought a new position in PureCycle Technologies in the 2nd quarter worth $3,121,000. Abundance Wealth Counselors lifted its position in PureCycle Technologies by 6.0% during the second quarter. Abundance Wealth Counselors now owns 7,189,490 shares of the company’s stock valued at $42,562,000 after purchasing an additional 407,353 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in PureCycle Technologies during the second quarter valued at about $689,000. 63.01% of the stock is 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.