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 $20,000,003 were purchased by SYLEBRA CAPITAL LLC on Sep 13 ’24. At $4.69 per share, SYLEBRA CAPITAL LLC acquired 4,264,393 shares. The insider’s holdings grew to 33,050,456 shares worth approximately $398.26 million following the completion of this transaction.
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Also, Musa Fernando purchased 18,303 shares, netting a total of over 99,934 in proceeds. Following the buying of shares at $5.46 each, the insider now holds 68,413 shares.
As published in a research note from TD Cowen on November 20, 2024, PureCycle Technologies Inc [PCT] has been retained to a Buy and the price target has been revised to $15. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid October. As of August 09, 2024, TD Cowen has reiterated its “Buy” rating for PCT. Earlier on January 03, 2024, Craig Hallum downgraded its rating. Their new recommendation was “a Hold” for PCT stock which previously was a “a Buy”.
Analyzing PCT Stock Performance
During the last five days, there has been a drop of approximately -3.75%. Over the course of the year, PureCycle Technologies Inc shares have jumped approximately 197.53%. Shares of the company reached a 52-week high of $15.58 on 10/25/24 and a 52-week low of $2.38 on 01/12/24. A 50-day SMA is recorded $11.88, while a 200-day SMA reached $7.51. Nevertheless, trading volume fell to 1.77 million shares from 1.69 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 11.73, which, if violated, would cause prices to drop to 11.41. In the upper region, resistance lies at 12.50. The next price resistance is at 12.95. RSI (Relative Strength Index) is 46.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 75.47%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
