Brokers Offer Predictions for PCT Q3 Earnings

PureCycle Technologies, Inc. (NASDAQ:PCT) – Equities researchers at Roth Capital issued their Q3 2024 earnings per share (EPS) estimates for shares of PureCycle Technologies in a note issued to investors on Wednesday, November 6th. Roth Capital analyst G. Sweeney anticipates that the company will earn ($0.13) per share for the quarter. The consensus estimate for PureCycle Technologies’ current full-year earnings is ($0.98) per share. Roth Capital also issued estimates for PureCycle Technologies’ Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.84) EPS and FY2025 earnings at ($0.30) EPS.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald began coverage on PureCycle Technologies in a report on Friday, October 18th. They set an “overweight” rating and a $14.00 target price on the stock. Stifel Nicolaus increased their price objective on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, August 12th. TD Cowen increased their price objective 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. Finally, Craig Hallum increased their price objective 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, PureCycle Technologies presently has an average rating of “Hold” and a consensus price target of $8.20.

PureCycle Technologies Trading Down 6.7 %

PCT stock opened at $12.46 on Friday. The business has a fifty day moving average price of $9.50 and a 200 day moving average price of $7.06. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. PureCycle Technologies has a fifty-two week low of $2.38 and a fifty-two week high of $15.58. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -12.98 and a beta of 1.56.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.13).

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fortis Group Advisors LLC boosted its stake in PureCycle Technologies by 12.5% during the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after acquiring an additional 1,376 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in PureCycle Technologies by 7.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock worth $159,000 after acquiring an additional 1,850 shares during the last quarter. Hsbc Holdings PLC boosted its stake in PureCycle Technologies by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after acquiring an additional 1,910 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in PureCycle Technologies by 6.7% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock worth $192,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in PureCycle Technologies by 1.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 183,600 shares of the company’s stock worth $1,087,000 after acquiring an additional 2,083 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 11.44% of the company’s stock.

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.