PureCycle Technologies, Inc. (NASDAQ:PCT) Given Consensus Recommendation of “Moderate Buy” by Analysts

PureCycle Technologies, Inc. (NASDAQ:PCT) has been assigned a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.50.

Several analysts have recently issued reports on PCT shares. TD Cowen upped their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Stifel Nicolaus increased 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th.

Institutional Trading of PureCycle Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Longview Asset Management LLC bought a new position in PureCycle Technologies during the second quarter valued at $57,521,000. Sylebra Capital LLC boosted its stake in shares of PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after purchasing an additional 4,264,393 shares during the period. Harvard Management Co. Inc. grew its holdings in PureCycle Technologies by 249.7% during the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after purchasing an additional 1,783,885 shares during the last quarter. Simplify Asset Management Inc. raised its position in PureCycle Technologies by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after purchasing an additional 713,664 shares during the period. Finally, Appian Way Asset Management LP lifted its stake in PureCycle Technologies by 12.9% in the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock worth $53,905,000 after purchasing an additional 650,426 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $10.62 on Tuesday. The business’s 50-day moving average is $12.20 and its 200 day moving average is $8.67. PureCycle Technologies has a 12 month low of $2.38 and a 12 month high of $15.58. The company has a market capitalization of $1.84 billion, a P/E ratio of -7.08 and a beta of 1.53. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.

PureCycle Technologies Company Profile

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.