PureCycle Technologies Inc. [PCT] Is Currently 3.36 below its 200 Period Moving Avg: What Does This Mean?

PureCycle Technologies Inc. [NASDAQ: PCT] traded at a high on 03/15/23, posting a 3.36 gain after which it closed the day’ session at $4.77. The company report on March 15, 2023 that PureCycle Technologies Provides Fourth Quarter 2022 Update.

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-PureCycle’s flagship purification facility in Ironton, Ohio, (“Ironton”) is nearly mechanically complete with the final systems expected to be complete in April.

-PureCycle executed a mutually agreeable limited waiver with the Ironton Bondholders to extend completion milestones with transfer of funds to specific accounts for project closure and operations. .

The results of the trading session contributed to over 3837843 shares changing hands. Over the past one week, the price volatility of PureCycle Technologies Inc. stands at 11.84% while the volatility over the past one month is 8.62%.

The market cap for PCT stock reached $723.75 million, with 163.51 million shares outstanding and 109.02 million shares in the current float. Compared to the average trading volume of 1.50M shares, PCT reached a trading volume of 3837843 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 $15.86 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 1.60. 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 0.50 The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 1.42.

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 -10.84. With this latest performance, PCT shares dropped by -38.05% in over the last four-week period, additionally sinking by -52.63% over the last 6 months – not to mention a drop of -43.28% 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 31.19, with the RSI for the last a single of trading hit 30.93, and the three-weeks RSI is set at 33.61 for PureCycle Technologies Inc. [PCT]. The present Moving Average for the last 50 days of trading for this stock 7.12, while it was recorded at 4.69 for the last single week of trading, and 7.76 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 7.00 and a Current Ratio set at 7.00.

Insider trade positions for PureCycle Technologies Inc. [PCT]

There are presently around $470 million, or 60.60% 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 3.80% of the total institutional ownership; VANGUARD GROUP INC, holding 10,343,274 shares of the stock with an approximate value of $49.34 million in PCT stocks shares; and SAMLYN CAPITAL, LLC, currently with $36.19 million in PCT stock with ownership of nearly -12.642% of the company’s market capitalization.

Positions in PureCycle Technologies Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 101 institutional holders increased their position in PureCycle Technologies Inc. [NASDAQ:PCT] by around 6,797,246 shares. Additionally, 60 investors decreased positions by around 5,474,958 shares, while 32 investors held positions by with 86,332,417 shares. The mentioned changes placed institutional holdings at 98,604,621 shares, according to the latest SEC report filing. PCT stock had 34 new institutional investments in for a total of 1,318,401 shares, while 21 institutional investors sold positions of 689,759 shares during the same period.


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