PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) - Roth Capital lowered their FY2024 earnings estimates for PureCycle Technologies in a report issued on Wednesday, February 26th. Roth Capital analyst G. Sweeney now forecasts that the company will post earnings of ($1.03) per share for the year, down from their previous estimate of ($0.84). The consensus estimate for PureCycle Technologies' current full-year earnings is ($1.01) per share. Roth Capital also issued estimates for PureCycle Technologies' Q4 2024 earnings at ($0.17) EPS, Q1 2025 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS and FY2025 earnings at ($0.36) EPS.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32).
PCT has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. TD Cowen boosted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th.
Get Our Latest Stock Analysis on PureCycle Technologies
PureCycle Technologies Price Performance
PCT traded down $0.16 during trading hours on Monday, hitting $9.13. The company's stock had a trading volume of 2,216,427 shares, compared to its average volume of 2,191,392. The business's 50-day moving average price is $9.60 and its 200-day moving average price is $9.98. PureCycle Technologies has a 12 month low of $4.50 and a 12 month high of $15.58. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -6.09 and a beta of 1.55. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its holdings in shares of PureCycle Technologies by 286.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after purchasing an additional 2,291 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock worth $33,000 after purchasing an additional 2,861 shares during the last quarter. US Bancorp DE grew its holdings in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after purchasing an additional 2,019 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in PureCycle Technologies in the fourth quarter worth about $80,000. Finally, Keudell Morrison Wealth Management purchased a new stake in PureCycle Technologies in the fourth quarter worth about $117,000. 63.01% of the stock is currently owned by institutional investors.
Insider Buying and Selling at PureCycle Technologies
In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were purchased at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the acquisition, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 11.44% of the company's stock.
PureCycle Technologies Company Profile
(
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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.
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