PureCycle Technologies (NYSE:PCT) Given New $6.00 Price Target at Craig Hallum

PureCycle Technologies (NYSE:PCT) had its price target raised by Craig Hallum from $4.00 to $6.00 in a research note released on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages also recently issued reports on PCT. Stifel Nicolaus reaffirmed a buy rating and set a $7.00 price target on shares of PureCycle Technologies in a report on Wednesday, July 3rd. TD Cowen lifted their target price on PureCycle Technologies from $7.50 to $10.00 and gave the stock a buy rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $6.50.

PureCycle Technologies Stock Down 10.6 %

NYSE PCT traded down $0.67 during trading on Friday, reaching $5.64. 3,257,962 shares of the company’s stock were exchanged, compared to its average volume of 1,796,755. The stock has a market cap of $928.51 million, a P/E ratio of -5.53 and a beta of 1.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50 day moving average price of $6.11 and a two-hundred day moving average price of $5.55. PureCycle Technologies has a 1 year low of $2.38 and a 1 year high of $11.73.

Institutional Trading of PureCycle Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. VitalStone Financial LLC increased its position in PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock valued at $38,000 after acquiring an additional 5,900 shares during the period. RIA Advisory Group LLC acquired a new position in PureCycle Technologies in the 4th quarter valued at about $40,000. National Bank of Canada FI increased its position in PureCycle Technologies by 45.8% in the 4th quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock valued at $52,000 after acquiring an additional 4,388 shares during the period. Goodman Advisory Group LLC acquired a new position in PureCycle Technologies in the 4th quarter valued at about $54,000. Finally, Fortis Group Advisors LLC acquired a new position in PureCycle Technologies in the 1st quarter valued at about $67,000. Institutional investors and hedge funds own 63.01% 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.