In yesterday’s Wall Street session, PureCycle Technologies Inc. (NASDAQ:PCT) shares traded at $6.18, down -18.42% from the previous session.
As of this writing, 6 analysts cover PureCycle Technologies Inc. (NASDAQ:PCT). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $12.00, we find $15.50. Given the previous closing price of $7.57, this indicates a potential upside of 104.76 percent. PCT stock price is now -39.11% away from the 50-day moving average and -20.84% away from the 200-day moving average. The market capitalization of the company currently stands at $1.02B.
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There are 0 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $14.92 as their price target over the next twelve months.
With the price target of $15, Stifel recently initiated with Buy rating for PureCycle Technologies Inc. (NASDAQ: PCT).
In other news, Olson Dustin, Chief Executive Officer sold 1,174 shares of the company’s stock on Dec 04. The stock was sold for $7,643 at an average price of $6.51. Upon completion of the transaction, the Chief Executive Officer now directly owns 484,045 shares in the company, valued at $2.99 million. Insiders disposed of 47,040 shares of company stock worth roughly $0.29 million over the past 1 year. A total of 3.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PCT stock. A new stake in PureCycle Technologies Inc. shares was purchased by ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $3,885,000. WEISS MULTI-STRATEGY ADVISERS LLC invested $1,811,000 in shares of PCT during the first quarter. In the first quarter, SANDERS MORRIS HARRIS LLC acquired a new stake in PureCycle Technologies Inc. valued at approximately $839,000. PERPETUAL LTD acquired a new stake in PCT for approximately $618,000. FORMULA GROWTH LTD purchased a new stake in PCT valued at around $324,000 in the second quarter.
Thursday morning saw PureCycle Technologies Inc. (NASDAQ: PCT) opened at $6.51. During the past 12 months, PureCycle Technologies Inc. has had a low of $4.44 and a high of $11.89. As of last week, the company has a debt-to-equity ratio of 0.67, a current ratio of 1.40, and a quick ratio of 1.40. The fifty day moving average price for PCT is $10.06 and a two-hundred day moving average price translates $7.80 for the stock.
The latest earnings results from PureCycle Technologies Inc. (NASDAQ: PCT) was released for Jun, 2023. According to the Pollution & Treatment Controls Company, earnings per share came in at -$0.35, missing analysts’ expectations of -$0.13 by -0.22. This compares to -$0.09 EPS in the same period last year. The company reported revenue of $27.8 million for the quarter, compared to $19.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 41.46 percent. For the current quarter, analysts expect PCT to generate $5.88M in revenue.
PureCycle Technologies Inc.(PCT) Company Profile
PureCycle Technologies, Inc. produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. PureCycle Technologies, Inc. was founded in 2015 and is headquartered in Orlando, Florida.
