Analysts Set PureCycle Technologies, Inc. (NASDAQ:PCT) Target Price at $10.60

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have earned an average rating of “Moderate Buy” from the four ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $12.50.

Several equities research analysts recently issued reports on PCT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a report on Tuesday, November 19th. Stifel Nicolaus upped their price target on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen upped their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sylebra Capital LLC grew its stake in PureCycle Technologies by 14.6% in the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after purchasing an additional 4,264,393 shares during the period. Verus Capital Partners LLC lifted its position in shares of PureCycle Technologies by 465.8% during the 3rd quarter. Verus Capital Partners LLC now owns 127,540 shares of the company’s stock valued at $1,212,000 after buying an additional 105,000 shares during the last quarter. IHT Wealth Management LLC purchased a new position in shares of PureCycle Technologies during the 3rd quarter valued at $485,000. Ensign Peak Advisors Inc purchased a new position in shares of PureCycle Technologies during the 2nd quarter valued at $311,000. Finally, Simplify Asset Management Inc. lifted its position in shares of PureCycle Technologies by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock valued at $16,835,000 after buying an additional 713,664 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

Shares of PCT opened at $10.85 on Tuesday. PureCycle Technologies has a 52-week low of $2.38 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The business’s 50 day moving average price is $12.20 and its two-hundred day moving average price is $8.63. The firm has a market cap of $1.88 billion, a PE ratio of -7.23 and a beta of 1.53.

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.