PureCycle Technologies’ (PCT) Buy Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of PureCycle Technologies (NYSE:PCT) in a report released on Wednesday, Benzinga reports. They currently have a $7.00 target price on the stock.

Separately, TD Cowen lifted their price target on PureCycle Technologies from $6.00 to $7.50 and gave the stock a buy rating in a research report on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $7.90.

PureCycle Technologies Trading Up 0.2 %

PureCycle Technologies stock opened at $5.47 on Wednesday. PureCycle Technologies has a 12 month low of $2.38 and a 12 month 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. The stock has a market cap of $900.53 million, a P/E ratio of -5.36 and a beta of 1.63. The company’s fifty day simple moving average is $5.45 and its 200-day simple moving average is $4.99.

PureCycle Technologies (NYSE:PCT) last announced its quarterly 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). As a group, sell-side analysts forecast that PureCycle Technologies will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in PureCycle Technologies during the 1st quarter worth approximately $70,000. Bayesian Capital Management LP acquired a new position in PureCycle Technologies in the first quarter worth $98,000. Price T Rowe Associates Inc. MD grew its holdings in shares of PureCycle Technologies by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 86,154 shares of the company’s stock worth $536,000 after purchasing an additional 4,258 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of PureCycle Technologies in the first quarter valued at $255,000. Finally, JT Stratford LLC raised its holdings in shares of PureCycle Technologies by 54.0% in the first quarter. JT Stratford LLC now owns 44,803 shares of the company’s stock valued at $279,000 after buying an additional 15,708 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

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.