PureCycle Technologies (NYSE:PCT) Given “Buy” Rating at Stifel Nicolaus

PureCycle Technologies (NYSE:PCT)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research note issued to investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 137.34% from the stock’s current price.

A number of other research firms have also issued reports on PCT. Oppenheimer lifted their target price on PureCycle Technologies from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. Roth Mkm reiterated a “buy” rating and issued a $12.50 target price on shares of PureCycle Technologies in a report on Thursday.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock traded down $1.25 during trading hours on Thursday, reaching $6.32. The company’s stock had a trading volume of 5,080,748 shares, compared to its average volume of 1,924,600. PureCycle Technologies has a one year low of $4.44 and a one year high of $11.89. The company’s 50 day simple moving average is $10.12 and its 200 day simple moving average is $8.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $1.04 billion, a P/E ratio of -8.21 and a beta of 1.30.

PureCycle Technologies (NYSE:PCT) last posted its earnings results on Tuesday, August 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). As a group, analysts expect that PureCycle Technologies will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Carmel Capital Partners LLC increased its position in PureCycle Technologies by 285.7% in the 2nd quarter. Carmel Capital Partners LLC now owns 2,700 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the period. Verus Capital Partners LLC bought a new position in PureCycle Technologies during the first quarter worth $72,000. Scotia Capital Inc. acquired a new position in PureCycle Technologies during the 1st quarter valued at $72,000. Sequoia Financial Advisors LLC acquired a new position in PureCycle Technologies during the 1st quarter valued at $76,000. Finally, Sei Investments Co. bought a new stake in PureCycle Technologies in the 1st quarter valued at $76,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. PureCycle Technologies, Inc was founded in 2015 and is headquartered in Orlando, Florida.