PureCycle Technologies Inc [NASDAQ: PCT] price surged by 14.14 percent to reach at $0.57. The company report on February 5, 2024 at 8:30 AM that PureCycle Provides Notice of Agreement in Principle to Purchase Ironton Bonds.
PureCycle Technologies, Inc. (Nasdaq:PCT) (the “Company”), today announced that PureCycle: Ohio LLC (“PCO”), an indirect subsidiary of the Company, has reached an agreement in principle with holders of a majority (the “Majority Holders”) of the Southern Ohio Port Authority Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt Series 2020A (the “Series 2020A Bonds”), of which $219,550,000 principal amount is outstanding, to purchase for cash (the “Purchase”), at a purchase price equal to $1,030 per $1,000 principal amount of Bonds (as defined below) purchased (the “Purchase Price”). In addition to the Majority Holders, additional holders of the Series 2020A Bonds may participate in the Purchase.
Holders of the Series 2020A Bonds that participate in the Purchase will be required to consent (each a “Consent” and collectively, the “Consents”) to certain proposed amendments (the “Proposed Amendments”) to the bond documents governing the Series 2020A Bonds and closing of the Purchase will require that no less than Majority Holders participate in the Purchase and provide their Consents. The Proposed Amendments will eliminate certain restrictive covenants and events of default contained in the bond documents governing the Series 2020A Bonds that are permitted to be eliminated with the consent of the Majority Holders. The Consents will become effective upon closing of the Purchase.
The one-year PCT stock forecast points to a potential upside of 34.29. The average equity rating for PCT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $7.00 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 2.00. 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.
Craig Hallum have made an estimate for PureCycle Technologies Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 03, 2024.
The Average True Range (ATR) for PureCycle Technologies Inc is set at 0.41 The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 1.49.
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 9.79. With this latest performance, PCT shares gained by 36.50% in over the last four-week period, additionally sinking by -58.07% over the last 6 months – not to mention a drop of -47.96% 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 65.32, with the RSI for the last a single of trading hit 74.15, and the three-weeks RSI is set at 59.25 for PureCycle Technologies Inc [PCT]. The present Moving Average for the last 50 days of trading for this stock 3.81, while it was recorded at 4.15 for the last single week of trading, and 6.62 for the last 200 days.
Insight into PureCycle Technologies Inc Fundamentals:
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.
PCT Stock EPS
With the latest financial reports released by the company, PureCycle Technologies Inc posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 58.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PCT.
PureCycle Technologies Inc [PCT] Institutonal Ownership Details
The top three institutional holders of PCT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PCT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PCT stock with ownership which is approximately 5.8325%.
