PureCycle Technologies (PCT) to Release Earnings on Thursday

PureCycle Technologies (NASDAQ:PCT) will post its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect PureCycle Technologies to post earnings of ($0.22) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). On average, analysts expect PureCycle Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $12.59 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. The firm has a market capitalization of $2.08 billion, a P/E ratio of -13.11 and a beta of 1.56. The company’s 50-day moving average is $9.21 and its 200 day moving average is $6.96. PureCycle Technologies has a 1-year low of $2.38 and a 1-year high of $15.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PCT shares. TD Cowen upped their target price on shares of PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Craig Hallum upped their target price on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Cantor Fitzgerald started coverage on shares of PureCycle Technologies in a research note on Friday, October 18th. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, PureCycle Technologies currently has an average rating of “Hold” and a consensus target price of $8.20.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.09% 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.