PureCycle Technologies (PCT) to Release Earnings on Thursday

PureCycle Technologies (NASDAQ:PCT) is scheduled to be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

PureCycle Technologies (NASDAQ:PCT) last issued 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, analysts expect PureCycle Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

PureCycle Technologies Trading Up 0.6 %

Shares of PureCycle Technologies stock opened at $12.59 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. The firm has a fifty day moving average price of $9.21 and a 200 day moving average price of $6.96. PureCycle Technologies has a 1 year low of $2.38 and a 1 year high of $15.58. The stock has a market cap of $2.08 billion, a PE ratio of -13.11 and a beta of 1.56.

Insider Activity at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCT. 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. Craig Hallum raised their target price on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Stifel Nicolaus raised their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald assumed coverage on shares of PureCycle Technologies in a research report on Friday, October 18th. They set an “overweight” rating and a $14.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, PureCycle Technologies has a consensus rating of “Hold” and an average price target of $8.20.

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.