PureCycle Technologies, Inc. (NYSE:PCT) Given Average Recommendation of "Hold" by Analysts

PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report) has been given an average rating of "Hold" by the seven analysts that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.20.

PCT has been the topic of a number of analyst reports. Cantor Fitzgerald began coverage on PureCycle Technologies in a research report on Friday, October 18th. They issued an "overweight" rating and a $14.00 price target on the stock. TD Cowen boosted their price target 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 boosted their price target 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. Finally, Stifel Nicolaus increased their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Monday, August 12th.

Insider Buying and Selling at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new stake in PureCycle Technologies during the first quarter worth about $67,000. Algert Global LLC purchased a new stake in shares of PureCycle Technologies during the second quarter worth about $69,000. Tidal Investments LLC purchased a new stake in PureCycle Technologies during the 1st quarter worth approximately $70,000. Bayesian Capital Management LP acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at approximately $98,000. Finally, Park Edge Advisors LLC bought a new stake in shares of PureCycle Technologies in the third quarter worth $100,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Down 1.4 %

Shares of NYSE:PCT traded down $0.20 during mid-day trading on Monday, reaching $13.92. 3,069,225 shares of the company were exchanged, compared to its average volume of 2,350,002. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.67. PureCycle Technologies has a 1 year low of $2.38 and a 1 year high of $15.58. The firm's 50-day simple moving average is $8.32 and its 200 day simple moving average is $6.63.

PureCycle Technologies (NYSE:PCT - Get Free Report) last released its 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). On average, equities analysts anticipate that PureCycle Technologies will post -0.98 earnings per share for the current fiscal year.

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.