Roth Capital Has Negative Outlook of PCT FY2024 Earnings

PureCycle Technologies, Inc. (NASDAQ:PCT) – Equities research analysts at Roth Capital lowered their FY2024 earnings per share estimates for PureCycle Technologies in a research note issued to investors on Wednesday, February 26th. Roth Capital analyst G. Sweeney now forecasts that the company will post earnings of ($1.03) per share for the year, down from their previous estimate of ($0.84). The consensus estimate for PureCycle Technologies’ current full-year earnings is ($1.01) per share. Roth Capital also issued estimates for PureCycle Technologies’ Q4 2024 earnings at ($0.17) EPS, Q1 2025 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS and FY2025 earnings at ($0.36) EPS.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.32).

PCT has been the subject of a number of other research reports. TD Cowen increased their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Stifel Nicolaus boosted their target price on PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a report on Tuesday, November 19th.

PureCycle Technologies Stock Down 9.1 %

PCT stock opened at $9.36 on Monday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.24 and a beta of 1.58. 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 $9.70 and its two-hundred day moving average price is $9.97. PureCycle Technologies has a fifty-two week low of $4.50 and a fifty-two week high of $15.58.

Institutional Trading of PureCycle Technologies

A number of large investors have recently made changes to their positions in PCT. Jones Financial Companies Lllp raised its stake in PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after buying an additional 2,291 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock valued at $33,000 after acquiring an additional 2,861 shares during the period. US Bancorp DE boosted its position in PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after purchasing an additional 2,019 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of PureCycle Technologies during the 4th quarter valued at about $80,000. Finally, Keudell Morrison Wealth Management purchased a new stake in shares of PureCycle Technologies during the 4th quarter valued at about $117,000. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the stock in a transaction on Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.44% of the stock is owned by company insiders.

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.