PureCycle Technologies Inc [NASDAQ: PCT] loss -0.80% or -0.05 points to close at $6.17 with a heavy trading volume of 2775222 shares. The company report on March 13, 2024 at 8:00 AM that PureCycle Resin Used by Churchill Container to Produce Souvenir Cups.
PureCycle Technologies, Inc. (NASDAQ:PCT) and Churchill Container, today, announced the successful manufacturing of a polypropylene cup made with 50% PureCycle resin. Churchill Container produces rigid plastic cups for clients in the sports, theater and restaurant industries.
PureCycle CEO Dustin Olson said, “This is a glimpse into the future of circularity. This is what we envisioned when we launched our PureZero™ program. Our resin can now be used to make the same high-quality Churchill stadium cups that are sold at sporting events across the U.S. We are proving that you can close the loop on polypropylene plastic waste by using our patented purification process to recycle one stadium cup at a time.”.
The daily chart for PCT points out that the company has recorded -0.48% loss over the past six months.
If we look at the average trading volume of 2.89M shares, PCT reached to a volume of 2775222 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 $7.80 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 new note on the price target was released on December 19, 2023, representing the official price target for PureCycle Technologies Inc stock.
The Average True Range (ATR) for PureCycle Technologies Inc is set at 0.51 The Price to Book ratio for the last quarter was 2.40, with the Price to Cash per share for the same quarter was set at 0.90.
Trading performance analysis for PCT stock
PureCycle Technologies Inc [PCT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.65. With this latest performance, PCT shares gained by 7.68% in over the last four-week period, additionally sinking by -0.48% over the last 6 months – not to mention a rise of 2.83% 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 63.54, with the RSI for the last a single of trading hit 67.21, and the three-weeks RSI is set at 61.37 for PureCycle Technologies Inc [PCT]. The present Moving Average for the last 50 days of trading for this stock 4.68, while it was recorded at 5.86 for the last single week of trading, and 6.40 for the last 200 days.
PureCycle Technologies Inc [PCT]: A deeper dive into fundamental analysis
PureCycle Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.92 and a Current Ratio set at 2.92.
PureCycle Technologies Inc [PCT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, PureCycle Technologies Inc posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -23.10%. 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.
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 8.2815%. 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%.
