Analysts Set PureCycle Technologies, Inc. (NYSE:PCT) Price Target at $7.90

PureCycle Technologies, Inc. (NYSE:PCT) has been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.90.

PCT has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price target on shares of PureCycle Technologies in a research report on Wednesday, July 3rd. TD Cowen raised their target price on shares of PureCycle Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, June 25th.

PureCycle Technologies Price Performance

PCT stock opened at $7.07 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.17 and a current ratio of 1.17. PureCycle Technologies has a 52 week low of $2.38 and a 52 week high of $11.89. The firm’s fifty day moving average is $5.68 and its 200 day moving average is $5.20. The firm has a market cap of $1.16 billion, a P/E ratio of -6.93 and a beta of 1.63.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Foster Victor Wealth Advisors LLC lifted its position in PureCycle Technologies by 6.7% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock valued at $192,000 after acquiring an additional 2,000 shares during the period. SWS Partners lifted its position in PureCycle Technologies by 3.3% during the 2nd quarter. SWS Partners now owns 895,545 shares of the company’s stock valued at $5,302,000 after acquiring an additional 28,397 shares during the period. Abundance Wealth Counselors lifted its position in PureCycle Technologies by 6.0% during the 2nd quarter. Abundance Wealth Counselors now owns 7,189,490 shares of the company’s stock valued at $42,562,000 after acquiring an additional 407,353 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in PureCycle Technologies by 12.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,521 shares of the company’s stock valued at $222,000 after purchasing an additional 4,191 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its stake in PureCycle Technologies by 18.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 36,100 shares of the company’s stock valued at $214,000 after purchasing an additional 5,700 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other 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.