For PureCycle Technologies Inc. [PCT], Analyst sees a rise to $15. What next?

PureCycle Technologies Inc. [NASDAQ: PCT] plunged by -$0.34 during the normal trading session on Thursday and reaching a high of $7.38 during the day while it closed the day at $6.84. The company report on November 9, 2022 that PureCycle Technologies Provides Third Quarter 2022 Update.

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-PureCycle’s flagship purification facility in Ironton, Ohio, (“Ironton”) targeting mechanical completion and pellet production in the first quarter of 2023..

-Closed on offtake agreements representing 106.0 million pounds of ultra-pure recycled (“UPR”) resin bringing total signed offtake agreements to 111% of nameplate capacity for Augusta lines 1 and 2..

PureCycle Technologies Inc. stock has also loss -10.35% of its value over the past 7 days. However, PCT stock has declined by -35.65% in the 3 months of the year. Over the past six months meanwhile, it has lost -5.13% and lost -28.53% year-on date.

The market cap for PCT stock reached $1.14 billion, with 163.51 million shares outstanding and 109.02 million shares in the current float. Compared to the average trading volume of 1.05M shares, PCT reached a trading volume of 5534180 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $18.29 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.

Stifel have made an estimate for PureCycle Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 16, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on September 23, 2021, representing the official price target for PureCycle Technologies Inc. stock. Previously, the target price had yet another raise to $25, while Jefferies analysts kept a Buy rating on PCT stock.

The Average True Range (ATR) for PureCycle Technologies Inc. is set at 0.57 The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 2.10.

PCT stock trade performance evaluation

PureCycle Technologies Inc. [PCT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.35. With this latest performance, PCT shares dropped by -10.59% in over the last four-week period, additionally sinking by -5.13% over the last 6 months – not to mention a drop of -40.52% 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 34.16, with the RSI for the last a single of trading hit 28.09, and the three-weeks RSI is set at 37.89 for PureCycle Technologies Inc. [PCT]. The present Moving Average for the last 50 days of trading for this stock 8.56, while it was recorded at 7.45 for the last single week of trading, and 8.10 for the last 200 days.

PureCycle Technologies Inc. [PCT]: An insightful look at the core 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 12.80 and a Current Ratio set at 12.80.

PureCycle Technologies Inc. [PCT]: Insider Ownership positions

There are presently around $666 million, or 60.50% of PCT stock, in the hands of institutional investors. The top three institutional holders of PCT stocks are: SYLEBRA CAPITAL LTD with ownership of 29,193,256, which is approximately 0% of the company’s market cap and around 5.00% of the total institutional ownership; VANGUARD GROUP INC, holding 10,531,386 shares of the stock with an approximate value of $72.03 million in PCT stocks shares; and SAMLYN CAPITAL, LLC, currently with $65.85 million in PCT stock with ownership of nearly -2.073% of the company’s market capitalization.

Positions in PureCycle Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 93 institutional holders increased their position in PureCycle Technologies Inc. [NASDAQ:PCT] by around 13,651,011 shares. Additionally, 60 investors decreased positions by around 3,906,555 shares, while 30 investors held positions by with 79,848,874 shares. The mentioned changes placed institutional holdings at 97,406,440 shares, according to the latest SEC report filing. PCT stock had 25 new institutional investments in for a total of 2,340,854 shares, while 19 institutional investors sold positions of 815,257 shares during the same period.


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