PureCycle Technologies Inc’s recent filing unveils that its 10% Owner SYLEBRA CAPITAL LLC acquired Company’s shares for reported $20.0 million on Sep 13 ’24. In the deal valued at $4.69 per share,4,264,393 shares were bought. As a result of this transaction, SYLEBRA CAPITAL LLC now holds 33,050,456 shares worth roughly $364.88 million.
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Then, Musa Fernando bought 18,303 shares, generating $99,934 in total proceeds. Upon buying the shares at $5.46, the Director now owns 68,413 shares.
Cantor Fitzgerald initiated its PureCycle Technologies Inc [PCT] rating to an Overweight in a research note published on October 18, 2024; the price target was $14. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early August has reiterated a ‘”a Buy”‘ rating for it. Craig Hallum also remained covering PCT and has decreased its forecast on January 03, 2024 with a “Hold” recommendation from previously “Buy” rating. ROTH MKM revised its rating on December 19, 2023. It rated PCT as “a Neutral” which previously was an “a Buy”.
Price Performance Review of PCT
On Friday, PureCycle Technologies Inc [NASDAQ:PCT] saw its stock fall -0.90% to $11.04. Over the last five days, the stock has lost -7.69%. PureCycle Technologies Inc shares have risen nearly 172.59% since the year began. Nevertheless, the stocks have risen 162.23% over the past one year. While a 52-week high of $15.58 was reached on 10/25/24, a 52-week low of $2.38 was recorded on 01/12/24. SMA at 50 days reached $10.38, while 200 days put it at $6.83.
Levels Of Support And Resistance For PCT Stock
The 24-hour chart illustrates a support level at 10.87, which if violated will result in even more drops to 10.71. On the upside, there is a resistance level at 11.21. A further resistance level may holdings at 11.38. The Relative Strength Index (RSI) on the 14-day chart is 45.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.18%. Stochastics %K at 3.16% indicates the stock is a buying.
How much short interest is there in PureCycle Technologies Inc?
A steep rise in short interest was recorded in PureCycle Technologies Inc stocks on 2024-10-31, dropping by -5.51 million shares to a total of 39.26 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 44.78 million shares. There was a decline of -14.03%, which implies that there is a negative sentiment for the stock.
