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Craig Hallum downgrades PureCycle Technologies Inc (PCT) rating to a Hold

In a filing, PureCycle Technologies Inc revealed its Director Musa Fernando acquired Company’s shares for reported $99934.0 on Mar 08 ’24. In the deal valued at $5.46 per share,18,303 shares were bought. As a result of this transaction, Musa Fernando now holds 68,413 shares worth roughly $0.33 million.

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Then, Somma Lawrence C bought 12,510 shares, generating $49,965 in total proceeds. Upon buying the shares at $3.99, the Chief Financial Officer now owns 420,371 shares.

Before that, BOUCK STEVEN F bought 8,000 shares. PureCycle Technologies Inc shares valued at $31,200 were divested by the Director at a price of $3.90 per share. As a result of the transaction, BOUCK STEVEN F now holds 41,640 shares, worth roughly $0.2 million.

Craig Hallum downgraded its PureCycle Technologies Inc [PCT] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including ROTH MKM’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Neutral”. Oppenheimer also remained covering PCT and has decreased its forecast on November 09, 2023 with a “Perform” recommendation from previously “an Outperform” rating. Stifel started covering the stock on September 16, 2022. It rated PCT as “a Buy”.

Price Performance Review of PCT

On Friday, PureCycle Technologies Inc [NASDAQ:PCT] saw its stock fall -0.82% to $4.84. Over the last five days, the stock has lost -9.36%. PureCycle Technologies Inc shares have risen nearly 19.51% since the year began. Nevertheless, the stocks have fallen -37.63% over the past one year. While a 52-week high of $11.89 was reached on 03/21/24, a 52-week low of $2.38 was recorded on 01/12/24. SMA at 50 days reached $5.43, while 200 days put it at $5.62. A total of 1.66 million shares were traded, compared to the trading of 1.1 million shares in the previous session.

Levels Of Support And Resistance For PCT Stock

The 24-hour chart illustrates a support level at 4.66, which if violated will result in even more drops to 4.47. On the upside, there is a resistance level at 4.98. A further resistance level may holdings at 5.11. The Relative Strength Index (RSI) on the 14-day chart is 42.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.17%. Stochastics %K at 32.84% indicates the stock is a holding.

The most recent change occurred on September 23, 2021 when Cowen began covering the stock and recommended ‘”an Outperform”‘ rating along with a $31 price target.

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