Market Analysts see PureCycle Technologies Inc. [PCT] gaining to $45. Time to buy?

PureCycle Technologies Inc. [NASDAQ: PCT] loss -39.69% or -9.76 points to close at $14.83 with a heavy trading volume of 10985974 shares. The company report on May 7, 2021 that PureCycle Technologies responds to report from short-selling firm.

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PureCycle Technologies, Inc. (“PureCycle” or “the Company”) (NASDAQ: PCT), a company focused on polypropylene recycling, commented on a short seller report published, May 6, 2021, by Hindenburg Research, that, by its own admission, stands to profit from any decline in the Company’s stock price, whether driven by its report or otherwise:.

We remain confident in our people, our technology, and our long term growth strategy. We believe ‘s report from a short selling firm is primarily designed to drive down the stock price in order to serve the short seller’s economic interests. We believe PureCycle is well-positioned to continue executing on its strategy to drive long term growth and enhanced value for shareholders.

It opened the trading session at $19.21, the shares rose to $19.4199 and dropped to $13.55, the range by which the price of stock traded the whole day. The daily chart for PCT points out that the company has recorded 48.76% gains over the past six months. However, it is still -51.95% lower than its most recent low trading price.

If we look at the average trading volume of 706.63K shares, PCT reached to a volume of 10985974 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about PureCycle Technologies Inc. [PCT]:

ROTH Capital have made an estimate for PureCycle Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 21, 2021.

The Average True Range (ATR) for PureCycle Technologies Inc. is set at 2.66 The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for PCT stock

PureCycle Technologies Inc. [PCT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -44.12. With this latest performance, PCT shares dropped by -43.46% in over the last four-week period, additionally plugging by 48.76% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PCT stock in for the last two-week period is set at 22.97, with the RSI for the last a single of trading hit 14.59, and the three-weeks RSI is set at 29.77 for PureCycle Technologies Inc. [PCT]. The present Moving Average for the last 50 days of trading for this stock 26.08, while it was recorded at 23.49 for the last single week of trading.

PureCycle Technologies Inc. [PCT]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -2.89, with Return on Assets sitting at -2.76.

PureCycle Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

An analysis of insider ownership at PureCycle Technologies Inc. [PCT]

There are presently around $160 million, or 20.70% of PCT stock, in the hands of institutional investors. The top three institutional holders of PCT stocks are: HOWARD HUGHES MEDICAL INSTITUTE with ownership of 1,665,694, which is approximately New of the company’s market cap and around 10.60% of the total institutional ownership; LEGACY ADVISORS, LLC, holding 1,067,800 shares of the stock with an approximate value of $26.26 million in PCT stocks shares; and SAMLYN CAPITAL, LLC, currently with $23.11 million in PCT stock with ownership of nearly New of the company’s market capitalization.

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Positions in PureCycle Technologies Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 36 institutional holders increased their position in PureCycle Technologies Inc. [NASDAQ:PCT] by around 6,028,464 shares. Additionally, 19 investors decreased positions by around 4,928,466 shares, while 1 investors held positions by with 4,437,896 shares. The mentioned changes placed institutional holdings at 6,519,034 shares, according to the latest SEC report filing. PCT stock had 35 new institutional investments in for a total of 6,018,343 shares, while 16 institutional investors sold positions of 4,825,804 shares during the same period.

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