PureCycle Technologies Inc. [PCT] Is Currently -1.72 below its 200 Period Moving Avg: What Does This Mean?


PureCycle Technologies Inc. [NASDAQ: PCT] traded at a low on 03/22/22, posting a -1.72 loss after which it closed the day’ session at $8.58. The company report on March 22, 2022 that PureCycle Breaks Ground on New Recycling Facility in Augusta, Georgia.

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Second Plastic Waste Purification Facility Brings Sustainability Mission to Southeast.

Today, PureCycle Technologies, Inc. (Nasdaq: PCT) will break ground on its second U.S. plastic waste purification facility in Augusta, Georgia, which will enable PureCycle to expand production of its ultra-pure recycled (UPR) resin. Initial construction activities will begin immediately following the groundbreaking ceremony.

The results of the trading session contributed to over 6062358 shares changing hands. Over the past one week, the price volatility of PureCycle Technologies Inc. stands at 9.94% while the volatility over the past one month is 10.79%.

The market cap for PCT stock reached $1.14 billion, with 133.24 million shares outstanding and 79.94 million shares in the current float. Compared to the average trading volume of 1.05M shares, PCT reached a trading volume of 6062358 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about PureCycle Technologies Inc. [PCT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PCT shares is $22.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PCT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for PureCycle Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 23, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on August 26, 2021, representing the official price target for PureCycle Technologies Inc. stock. Previously, the target price had yet another raise to $30, while Alembic Global Advisors analysts kept a Overweight rating on PCT stock.

The Average True Range (ATR) for PureCycle Technologies Inc. is set at 0.80 The Price to Book ratio for the last quarter was 3.08, with the Price to Cash per share for the same quarter was set at 1.66.

How has PCT stock performed recently?

PureCycle Technologies Inc. [PCT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.83. With this latest performance, PCT shares gained by 42.05% in over the last four-week period, additionally sinking by -32.76% over the last 6 months – not to mention a drop of -73.72% in the past year of trading.

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 55.18, with the RSI for the last a single of trading hit 52.72, and the three-weeks RSI is set at 54.47 for PureCycle Technologies Inc. [PCT]. The present Moving Average for the last 50 days of trading for this stock 7.01, while it was recorded at 9.33 for the last single week of trading, and 12.54 for the last 200 days.

PureCycle Technologies Inc. [PCT]: Deeper insight into the 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 4.10 and a Current Ratio set at 4.10.

Insider trade positions for PureCycle Technologies Inc. [PCT]

There are presently around $470 million, or 44.70% of PCT stock, in the hands of institutional investors. The top three institutional holders of PCT stocks are: SYLEBRA CAPITAL LTD with ownership of 18,121,856, which is approximately 1.882% of the company’s market cap and around 6.90% of the total institutional ownership; VANGUARD GROUP INC, holding 7,368,277 shares of the stock with an approximate value of $63.22 million in PCT stocks shares; and BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., currently with $39.9 million in PCT stock with ownership of nearly 6.291% of the company’s market capitalization.

Positions in PureCycle Technologies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 91 institutional holders increased their position in PureCycle Technologies Inc. [NASDAQ:PCT] by around 8,234,297 shares. Additionally, 56 investors decreased positions by around 5,039,840 shares, while 12 investors held positions by with 41,521,270 shares. The mentioned changes placed institutional holdings at 54,795,407 shares, according to the latest SEC report filing. PCT stock had 42 new institutional investments in for a total of 1,967,908 shares, while 28 institutional investors sold positions of 3,909,819 shares during the same period.