PureCycle Technologies Inc. (NASDAQ: PCT) Trading under Its 20 Day MA ($8.11), Why Showing An Interesting Price Pattern?

PureCycle Technologies Inc. (NASDAQ:PCT) does about 1.20M shares in volume on a normal day but saw 843439 shares change hands in Friday trading. The company now has a market cap of 1.14B USD. Its current market price is $7.08, marking a decrease of -0.28% compared to the previous close of $7.10. The 52 week high reached by this stock is $10.95 whilst the lowest price level in 52 weeks is $5.23. The script in recent trading has seen the stock touch a high of $7.17 and a low of $6.86.

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PureCycle Technologies Inc. (PCT) has a 20-day trading average at $8.11 and the current price is -35.34% off the 52-week high compared with 35.37% distance from its 52-week low. The 50-day simple moving average of the closing price is $7.37 and its 200-day simple moving average is $8.00. If we look at the stock’s price movements over the week, volatility stands at 7.57%, which decreases to 6.99% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 37.48 to suggest the stock is neutral.

6 analysts observing the PureCycle Technologies Inc. (PCT) stock have set the 12-month price targets for the company’s shares at between $11.00 and $30.00. The consensus objective for the share price is $15.86, suggesting that the stock has a potential upside of 55.36% over the period. The median price target is 51.17% away from the current levels at $14.50.

FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 6 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on September 16, 2022 when Stifel initiated the stock to “Buy” and issued a price target of $15. Jefferies initiated its price target at $25.

The current price level is -13.91%, -3.79%, and -11.56% away from its SMA20, SMA50, and SMA200 respectively, with the PCT price moving above the 50-day SMA on February 17. PureCycle Technologies Inc. (PCT) stock is down -11.28% over the week and -17.00% over the past month. Its price is 4.73% year-to-date and 18.79% over the past year.

The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.21 below consensus estimates by -$0.1. The company’s next earnings report is expected on 05/15/2023, with forecasts estimating quarterly EPS at -$0.14 and -$0.63 for whole year. PCT’s earnings per share are forecast to grow by 16.00% this year and 1.60% over next year.

Its 12-month price target is $14.50. To reach the target analysts have set, the stock logically needs to grow 55.36 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $11.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $30.00.

Outstanding shares total 163.51M with insiders holding 28.49% of the shares and institutional holders owning 60.81% of the company’s common stock. The company has a return on equity of -18.80%. Price to book ratio is 2.23.

According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in PureCycle Technologies Inc. (PCT) to 3,273,562 shares, mirroring a recent increase by 2.75%. Vanguard Total Stock Market Index added 87495.0 shares of PureCycle Technologies Inc. common stock bringing its total worth to about $27.43 million at the end of recent close, SEC documents show. Vanguard Small Cap Index Fund raise their holdings by 0.55% in the company over the course of the most recent quarter. It now holds a 1.68% position in PureCycle Technologies Inc. thanks to 2.75 million shares amounting to $23.07 million.

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