Q2 2024 Earnings Forecast for PureCycle Technologies, Inc. (NYSE:PCT) Issued By Roth Capital

PureCycle Technologies, Inc. (NYSE:PCT) – Equities researchers at Roth Capital dropped their Q2 2024 earnings per share estimates for shares of PureCycle Technologies in a research report issued to clients and investors on Wednesday, May 8th. Roth Capital analyst G. Sweeney now anticipates that the company will post earnings per share of ($0.15) for the quarter, down from their previous estimate of ($0.12). The consensus estimate for PureCycle Technologies’ current full-year earnings is ($0.53) per share. Roth Capital also issued estimates for PureCycle Technologies’ Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.08) EPS and FY2024 earnings at ($0.60) EPS.

PureCycle Technologies Stock Up 2.3 %

NYSE PCT opened at $4.88 on Friday. The stock has a fifty day moving average of $5.48 and a 200-day moving average of $4.61. The stock has a market capitalization of $802.47 million, a P/E ratio of -7.39 and a beta of 1.60. PureCycle Technologies has a 52 week low of $2.38 and a 52 week high of $11.89. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92.

PureCycle Technologies (NYSE:PCT) last released its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PCT. VitalStone Financial LLC boosted its position in shares of PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after purchasing an additional 5,900 shares during the last quarter. RIA Advisory Group LLC bought a new position in shares of PureCycle Technologies in the 4th quarter worth $40,000. Symphony Financial Ltd. Co. bought a new position in shares of PureCycle Technologies in the 4th quarter worth $43,000. National Bank of Canada FI boosted its position in shares of PureCycle Technologies by 45.8% in the 4th quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock worth $52,000 after purchasing an additional 4,388 shares during the last quarter. Finally, Stratos Wealth Advisors LLC bought a new position in shares of PureCycle Technologies in the 4th quarter worth $53,000. 63.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Fernando Musa bought 18,303 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $5.46 per share, with a total value of $99,934.38. Following the purchase, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

PureCycle Technologies Company Profile

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.