PureCycle Technologies Inc (NASDAQ:PCT) price on Thursday, January 16, fall -1.88% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.41.
A look at the stock’s price movement, the close in the last trading session was $9.59, moving within a range at $9.365 and $9.67. The beta value (5-Year monthly) was 1.603. Turning to its 52-week performance, $15.58 and $2.56 were the 52-week high and 52-week low respectively. Overall, PCT moved -19.91% over the past month.
PureCycle Technologies Inc’s market cap currently stands at around $1.63 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 6.55M for the company’s revenue for the quarter, with a low and high estimate of 4.55M and 9.1M respectively.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PCT is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend PCT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PCT’s current price about -8.96% and -19.00% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 33.93, while 7-day volatility ratio is 5.90% and 6.11% in the 30-day chart. Further, PureCycle Technologies Inc (PCT) has a beta value of 1.64, and an average true range (ATR) of 0.65. Analysts have given the company’s stock an average 52-week price target of $14, forecast between a low of $6 and high of $37. Looking at the price targets, the low is 36.24% off current price level while to achieve the yearly target high, price needs to move -293.2%. Nonetheless, investors will most likely welcome a -48.78% jump to $14 which is the analysts’ median price.
If we refocus on PureCycle Technologies Inc (NASDAQ:PCT), historical trading data shows that trading volumes averaged 1.89 over the past 10 days and 2.64 million over the past 3 months. The company’s latest data on shares outstanding shows there are 173.49 million shares.
The 8.41% of PureCycle Technologies Inc’s shares are in the hands of company insiders while institutional holders own 92.26% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 39.26 million on 2024-10-31, giving us a short ratio of 13.8. The data shows that as of 2024-10-31 short interest in PureCycle Technologies Inc (PCT) stood at 2773.0 of shares outstanding, with shares short falling to 44.78 million registered in 2024-09-30. Current price change has pushed the stock -8.20% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PCT stock continues to rise going into the next quarter.
