Market Analysts see PureCycle Technologies Inc. [PCT] gaining to $30. Time to buy?

PureCycle Technologies Inc. [NASDAQ: PCT] stock went on an upward path that rose over 7.99% on Wednesday, amounting to a one-week price increase of more than 3.84%. The company report on June 17, 2021 that SHAREHOLDER ACTION ALERT: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against PureCycle Technologies, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm.

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The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against PureCycle Technologies, Inc. (‘PureCycle’ or ‘the Company’) (NASDAQ: PCT) for violations of the federal securities laws.

Investors who purchased the Company’s securities between November 16, 2020 and May 5, 2021, inclusive (the ”Class Period”), are encouraged to contact the firm before July 12, 2021.

The market cap for the stock reached $2.34 billion, with 114.07 million shares outstanding and 97.45 million shares in the current float. Compared to the average trading volume of 1.45M shares, PCT stock reached a trading volume of 2544956 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on PureCycle Technologies Inc. [PCT]:

Alembic Global Advisors have made an estimate for PureCycle Technologies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 07, 2021. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on May 24, 2021, representing the official price target for PureCycle Technologies Inc. stock. Previously, the target price had yet another raise to $45, while ROTH Capital analysts kept a Buy rating on PCT stock.

The Average True Range (ATR) for PureCycle Technologies Inc. is set at 2.01 The Price to Book ratio for the last quarter was 3.09, with the Price to Cash per share for the same quarter was set at 2.21.

PCT Stock Performance Analysis:

PureCycle Technologies Inc. [PCT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.84. With this latest performance, PCT shares gained by 48.27% in over the last four-week period, additionally plugging by 52.79% 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 54.60, with the RSI for the last a single of trading hit 58.31, and the three-weeks RSI is set at 51.93 for PureCycle Technologies Inc. [PCT]. The present Moving Average for the last 50 days of trading for this stock 20.87, while it was recorded at 19.39 for the last single week of trading.

Insight into PureCycle Technologies Inc. Fundamentals:

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 8.50 and a Current Ratio set at 8.50.

PureCycle Technologies Inc. [PCT] Insider Position Details

There are presently around $640 million, or 27.10% of PCT stock, in the hands of institutional investors. The top three institutional holders of PCT stocks are: SYLEBRA CAPITAL LTD with ownership of 17,182,391, which is approximately New of the company’s market cap and around 10.70% of the total institutional ownership; SAMLYN CAPITAL, LLC, holding 3,286,433 shares of the stock with an approximate value of $67.54 million in PCT stocks shares; and HOWARD HUGHES MEDICAL INSTITUTE, currently with $34.23 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 May and at the time of the May reporting period, where 73 institutional holders increased their position in PureCycle Technologies Inc. [NASDAQ:PCT] by around 29,459,717 shares. Additionally, 19 investors decreased positions by around 3,180,983 shares, while 0 investors held positions by with 1,475,806 shares. The mentioned changes placed institutional holdings at 31,164,894 shares, according to the latest SEC report filing. PCT stock had 66 new institutional investments in for a total of 25,825,780 shares, while 14 institutional investors sold positions of 3,018,442 shares during the same period.

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