PureCycle Technologies (NASDAQ:PCT) Stock Price Target Cut by Cantor Fitzgerald

PureCycle Technologies (NASDAQ:PCT) had its target price cut by equities researchers at Cantor Fitzgerald from $12.00 to $8.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 380.48% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.75.

PureCycle Technologies Stock Performance

Shares of NASDAQ PCT traded down $0.21 during trading on Thursday, hitting $1.67. The company had a trading volume of 14,575,516 shares, compared to its average volume of 6,504,882. PureCycle Technologies has a 12 month low of $1.59 and a 12 month high of $14.20. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60. The firm has a market capitalization of $334.50 million, a P/E ratio of -1.45 and a beta of 2.74. The stock has a 50 day simple moving average of $4.37 and a 200 day simple moving average of $7.12.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The company had revenue of $2.35 million for the quarter, compared to the consensus estimate of $8.28 million. As a group, analysts anticipate that PureCycle Technologies will post -0.90 earnings per share for the current year.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, Director Fernando Musa bought 15,479 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average price of $6.38 per share, for a total transaction of $98,756.02. Following the completion of the transaction, the director owned 175,983 shares of the company’s stock, valued at $1,122,771.54. This trade represents a 9.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCT. Cassaday & Co Wealth Management LLC purchased a new stake in PureCycle Technologies during the 1st quarter valued at approximately $33,000. Avidian Wealth Enterprises LLC purchased a new position in shares of PureCycle Technologies during the third quarter valued at about $44,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of PureCycle Technologies during the second quarter valued at about $82,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of PureCycle Technologies in the third quarter worth about $45,000. Finally, Sigma Planning Corp bought a new stake in shares of PureCycle Technologies in the first quarter worth about $53,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

More PureCycle Technologies News

Here are the key news stories impacting PureCycle Technologies this week:

• Positive Sentiment: Management outlined a demand pipeline of 45 million–55 million pounds. The company is also pausing discretionary growth spending until financing for its Thailand project closes, which may help conserve cash in the near term. Article: PureCycle demand pipeline and spending plans
• Neutral Sentiment: Cantor Fitzgerald cut its price target from $12 to $8 but kept an “overweight” rating. The lower target reflects a more cautious outlook, while the maintained rating signals the analyst sees potential upside. Article: Cantor Fitzgerald rating
• Negative Sentiment: PureCycle reported a third-quarter loss of $0.29 per share, worse than the cited analyst estimate of a $0.26 loss, and revenue of $2.35 million versus expectations of $8.28 million. Article: PureCycle Q3 results
• Negative Sentiment: Two reliability issues at the Ironton plant constrained quarterly production, leaving the company short of inventory for internal revenue targets. The production shortfall and earnings miss are key reasons for the stock’s decline. Article: PureCycle investigation notice and operational issues
• Negative Sentiment: A law firm announced a pending investor investigation following the company’s disclosure. The notice adds potential legal uncertainty, though it is not itself a finding of wrongdoing. Article: Investigation notice

PureCycle Technologies Company Profile

PureCycle Technologies, Inc (NASDAQ:PCT) is a recycling technology company focused on converting waste polypropylene (PP) into recycled resin with properties designed to be comparable to virgin polypropylene. Its technology is intended to remove color, odor and other contaminants from used plastic, expanding the potential for recycled PP in applications that traditionally rely on virgin materials.

The company processes post-consumer and post-industrial polypropylene feedstock into purified recycled polypropylene products.