PureCycle Technologies Inc [NASDAQ: PCT] gained 27.12% or 0.83 points to close at $3.89 with a heavy trading volume of 8540495 shares. The company report on November 7, 2023 at 8:30 PM that PureCycle Technologies Provides Third Quarter 2023 Update.
-Processed 409k lbs of feed through purification and sent first commercial shipments of Ultra-Pure Recycled (“UPR”) resin for Formerra and Milliken.
-Ironton operations continue to improve daily with onstream performance increasing across core process operation; key challenge has been to maintain pelletization due to a mechanical leak that will be permanently repaired in November.
It opened the trading session at $3.43, the shares rose to $4.10 and dropped to $3.365, the range by which the price of stock traded the whole day. The daily chart for PCT points out that the company has recorded -40.97% loss over the past six months. However, it is still -27.54% lower than its most recent low trading price.
If we look at the average trading volume of 2.89M shares, PCT reached to a volume of 8540495 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PCT shares is $9.90 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 1.33. 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.
Oppenheimer have made an estimate for PureCycle Technologies Inc shares, keeping their opinion on the stock as Perform, with their previous recommendation back on November 09, 2023.
The Average True Range (ATR) for PureCycle Technologies Inc is set at 0.55 The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 1.49.
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 -10.78. With this latest performance, PCT shares dropped by -20.61% in over the last four-week period, additionally sinking by -40.97% over the last 6 months – not to mention a drop of -46.27% 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 43.29, with the RSI for the last a single of trading hit 46.59, and the three-weeks RSI is set at 41.01 for PureCycle Technologies Inc [PCT]. The present Moving Average for the last 50 days of trading for this stock 5.38, while it was recorded at 3.43 for the last single week of trading, and 7.35 for the last 200 days.
PureCycle Technologies Inc [PCT]: A deeper dive into fundamental analysis
Return on Total Capital for PCT is now -11.83, given the latest momentum, and Return on Invested Capital for the company is -12.33. Return on Equity for this stock declined to -18.99, with Return on Assets sitting at -11.11. When it comes to the capital structure of this company, PureCycle Technologies Inc [PCT] has a Total Debt to Total Equity ratio set at 48.96. Additionally, PCT Total Debt to Total Capital is recorded at 32.87, with Total Debt to Total Assets ending up at 29.04. Long-Term Debt to Equity for the company is recorded at 48.96, with the Long-Term Debt to Total Capital now at 32.87.
Reflecting on the efficiency of the workforce at the company, PureCycle Technologies Inc [PCT] managed to generate an average of -$478,791 per employee.PureCycle Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.95 and a Current Ratio set at 4.95.
An analysis of Institutional ownership at PureCycle Technologies Inc [PCT]
The top three institutional holders of PCT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in PCT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in PCT stock with ownership which is approximately 5.7994%.