PureCycle Technologies (NYSE:PCT) Price Target Increased to $7.50 by Analysts at TD Cowen

PureCycle Technologies (NYSE:PCT) had its price target increased by TD Cowen from $6.00 to $7.50 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock opened at $5.92 on Tuesday. The company has a market cap of $974.62 million, a PE ratio of -5.80 and a beta of 1.61. The business has a 50 day moving average price of $5.40 and a 200-day moving average price of $4.96. PureCycle Technologies has a 52 week low of $2.38 and a 52 week high of $11.89. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.84.

PureCycle Technologies (NYSE:PCT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.10). Equities analysts anticipate that PureCycle Technologies will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PureCycle Technologies

Institutional investors have recently made changes to their positions in the stock. VitalStone Financial LLC increased its holdings in shares of PureCycle Technologies by 163.9% in the fourth quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after buying an additional 5,900 shares during the period. RIA Advisory Group LLC purchased a new stake in shares of PureCycle Technologies in the 4th quarter worth approximately $40,000. Symphony Financial Ltd. Co. bought a new position in PureCycle Technologies during the 4th quarter valued at approximately $43,000. National Bank of Canada FI boosted its holdings in PureCycle Technologies by 45.8% in the fourth quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock worth $52,000 after acquiring an additional 4,388 shares in the last quarter. Finally, Stratos Wealth Advisors LLC bought a new position in shares of PureCycle Technologies during the fourth quarter valued at $53,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Company Profile

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.