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A company insider recently bought 18,303 shares of PureCycle Technologies Inc [PCT]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PureCycle Technologies Inc shares valued at $99,934 were purchased by Musa Fernando on Mar 08 ’24. At $5.46 per share, Musa Fernando acquired 18,303 shares. The insider’s holdings grew to 68,413 shares worth approximately $0.38 million following the completion of this transaction.

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Also, Somma Lawrence C purchased 12,510 shares, netting a total of over 49,965 in proceeds. Following the buying of shares at $3.99 each, the insider now holds 420,371 shares.

Before that, BOUCK STEVEN F had added 8,000 shares to its account. In a trade valued at $31,200, the Director bought PureCycle Technologies Inc shares for $3.90 each. Upon closing the transaction, the insider’s holdings increased to 8,000 shares, worth approximately $0.23 million.

As published in a research note from Craig Hallum on January 03, 2024, PureCycle Technologies Inc [PCT] has been rated down from a Buy to a Hold and the price target has been revised to $4. Analysts at ROTH MKM downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of November 09, 2023, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for PCT. Earlier on September 16, 2022, Stifel initiated its rating. Their recommendation was “a Buy” for PCT stock.

Analyzing PCT Stock Performance

During the last five days, there has been a drop of approximately -9.26%. Over the course of the year, PureCycle Technologies Inc shares have jumped approximately 35.56%. Shares of the company reached a 52-week high of $6.59 on 03/21/24 and a 52-week low of $2.38 on 01/12/24. A 50-day SMA is recorded $5.40, while a 200-day SMA reached $4.90. Nevertheless, trading volume fell to 2.09 million shares from 1.06 million shares the previous day.

Support And Resistance Levels for PureCycle Technologies Inc (PCT)

According to the 24-hour chart, there is a support level at 5.16, which, if violated, would cause prices to drop to 4.87. In the upper region, resistance lies at 5.74. The next price resistance is at 6.02. RSI (Relative Strength Index) is 45.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 70.05%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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