PureCycle Technologies Inc [NASDAQ: PCT] stock went on an upward path that rose over 2.80% on Thursday, amounting to a one-week price increase of more than 3.35%. The company report on March 28, 2024 at 4:45 PM that Scheduled Operational Pause at Ironton Purification Facility to Begin in April.
PureCycle Technologies, Inc. (NASDAQ:PCT), today, announced that its flagship purification facility in Ironton, Ohio will begin a scheduled operational pause on April 1, 2024. During the pause, several improvements will be made to the facility with the goal of increasing reliability and driving more consistent product quality.
PureCycle CEO Dustin Olson said, “I believe we made good progress in our operations during the first quarter and feel good about where we are, going into this operational pause. Our team is excited to get to work.” Olson added, “This pause will allow us to make improvements to our flagship facility based off what we learned during operations over the last three months. It’s those improvements that should help take us into the next phase of production.”.
Over the last 12 months, PCT stock dropped by -7.99%. The one-year PureCycle Technologies Inc stock forecast points to a potential upside of 24.74. The average equity rating for PCT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $965.26 million, with 163.55 million shares outstanding and 126.01 million shares in the current float. Compared to the average trading volume of 2.59M shares, PCT stock reached a trading volume of 2928438 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $7.80 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 0.40 The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 0.90.
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 3.35. With this latest performance, PCT shares gained by 18.83% in over the last four-week period, additionally plugging by 4.63% over the last 6 months – not to mention a drop of -7.99% 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 54.04, with the RSI for the last a single of trading hit 52.68, and the three-weeks RSI is set at 54.87 for PureCycle Technologies Inc [PCT]. The present Moving Average for the last 50 days of trading for this stock 5.43, while it was recorded at 5.85 for the last single week of trading, and 6.22 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 2.92 and a Current Ratio set at 2.92.
PCT Stock EPS
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.
PureCycle Technologies Inc [PCT] Institutonal Ownership Details
The top three institutional holders of PCT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PCT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PCT stock with ownership which is approximately 5.8386%.
