PureCycle Technologies (PCT) Set to Announce Earnings on Thursday – MarketBeat
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PureCycle Technologies (NYSE:PCT – Get Rating) is set to release its earnings data before the market opens on Thursday, November 10th. Analysts expect PureCycle Technologies to post earnings of ($0.12) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.
PureCycle Technologies (NYSE:PCT – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. On average, analysts expect PureCycle Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
PureCycle Technologies Trading Down 0.6 %
PureCycle Technologies stock opened at $8.05 on Thursday. The firm’s 50-day moving average is $8.76 and its 200-day moving average is $8.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 12.85 and a current ratio of 12.85. PureCycle Technologies has a 1 year low of $4.94 and a 1 year high of $14.45. The company has a market cap of $1.32 billion, a P/E ratio of -13.42 and a beta of 0.92.
Hedge Funds Weigh In On PureCycle Technologies
Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. acquired a new position in shares of PureCycle Technologies in the 1st quarter worth approximately $81,000. Advisor Group Holdings Inc. grew its stake in shares of PureCycle Technologies by 53.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 18,998 shares of the company’s stock worth $153,000 after purchasing an additional 6,623 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of PureCycle Technologies in the 1st quarter worth approximately $83,000. JPMorgan Chase & Co. boosted its holdings in shares of PureCycle Technologies by 21.5% in the first quarter. JPMorgan Chase & Co. now owns 49,391 shares of the company’s stock worth $395,000 after buying an additional 8,743 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of PureCycle Technologies by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 200,692 shares of the company’s stock worth $1,605,000 after buying an additional 8,096 shares during the period. Institutional investors and hedge funds own 66.66% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on PCT. Cowen dropped their price objective on shares of PureCycle Technologies from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 15th. Stifel Nicolaus began coverage on shares of PureCycle Technologies in a report on Thursday, September 15th. They issued a “buy” rating and a $15.00 price objective on the stock.
About PureCycle Technologies
(Get Rating)
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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