PureCycle Technologies (NYSE:PCT) PT Lowered to $10.00

PureCycle Technologies (NYSE:PCTGet Rating) had its target price lowered by equities research analysts at Oppenheimer from $14.00 to $10.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 60.26% from the stock’s previous close. Oppenheimer also issued estimates for PureCycle Technologies’ FY2026 earnings at ($0.41) EPS.

PureCycle Technologies Trading Down 6.2 %

Shares of PCT opened at $6.24 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -9.90 and a beta of 0.94. The company has a quick ratio of 7.01, a current ratio of 7.01 and a debt-to-equity ratio of 0.45. PureCycle Technologies has a 12-month low of $4.44 and a 12-month high of $10.95. The stock’s 50-day moving average price is $7.15 and its 200 day moving average price is $7.48.

Hedge Funds Weigh In On PureCycle Technologies

Several institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System bought a new stake in shares of PureCycle Technologies during the second quarter worth approximately $281,000. Nishkama Capital LLC acquired a new stake in PureCycle Technologies in the 3rd quarter valued at approximately $1,128,000. Element Capital Management LLC bought a new stake in shares of PureCycle Technologies in the third quarter worth $218,000. Drive Wealth Management LLC bought a new stake in PureCycle Technologies during the 3rd quarter worth about $565,000. Finally, Wolf Hill Capital Management LP grew its holdings in shares of PureCycle Technologies by 1.9% in the 2nd quarter. Wolf Hill Capital Management LP now owns 1,569,142 shares of the company’s stock valued at $11,643,000 after acquiring an additional 29,341 shares in the last quarter. Institutional investors own 83.82% of the company’s stock.

About PureCycle Technologies

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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. The company was founded in 2015 and is headquartered in Orlando, Florida.

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