Watching PureCycle Technologies Inc. (PCT) For Insider Activity

PureCycle Technologies Inc. (NASDAQ:PCT) finished Friday with a subtraction of -$0.31 to close at $14.54, a downside of -2.09 percent. An average of 444,700 shares of common stock have been traded in the last five days. There was a gain of $0.61 in the past week, and it reached a new high 26 times over the past 12 months. The last 20 days have seen an average of 636,850 shares traded, while the 50-day average volume stands at 884,708.

PCT stock has decreased by -0.82% in the last month. The company shares reached their 1-month lowest point of $11.50 on 10/04/21. With the stock rallying to its 52-week high on 03/18/21, shares of the company touched a low of $9.80 and a high of $35.75 in 52 weeks. It has reached a new high 13 times so far this year and lost -9.86% or -$1.59 in price. In spite of this, the price is down -59.33% from the 52-week high.

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Valuation Metrics

PureCycle Technologies Inc. (PCT) has a trailing price-to-earnings (P/E) ratio of 20.30 for the broader industry and 29.83 for the sector. Other valuation ratios to consider include the price-to-book (PB) ratio at 5.23.

The quick ratio of PureCycle Technologies Inc. for the three months ended June 29 was 5.60, and the current ratio was 5.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.89 and a total debt to equity ratio of 0.89 for the quarter ending June 29.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, PureCycle Technologies Inc.’s return on assets was -12.20%. For the broader industry, ROE averaged 7.02 over the past year.

Earnings Surprise

For the three-month period that ended June 29, PureCycle Technologies Inc. had $200.43 million in cash and short-term investments compared to $232.04 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$15.28 million in the quarter, while revenues were grew 100.0%. The analyst consensus anticipated PureCycle Technologies Inc.’s latest quarter earnings to come in at -$0.16 per share, but it turned out to be -$0.13, a 18.80% surprise. For the quarter, EBITDA amounted to -$8.57 million. Shareholders own equity worth $117.36 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at PureCycle Technologies Inc. (PCT) price momentum. RSI 9-day as of the close on 22 October was 59.60%, suggesting the stock is Neutral, with historical volatility in this time frame at 39.61%.

As of today, PCT’s price is $14.20 +4.38% or $0.61 from its 5-day moving average. PCT is currently trading +3.19% higher than its 20-day SMA and -26.16% lower than its 100-day SMA. However, the stock’s current price level is -8.78% below the SMA50 and -7.68% below the SMA200.

The stochastic %K and %D were 86.12% and 78.39%, respectively, and the average true range (ATR) was 0.87. With the 14-day stochastic at 85.00% and the average true range at 0.93, the RSI (14) stands at 56.04%. The stock has reached 0.37 on the 9-day MACD Oscillator while the 14-day reading was at 0.60.

Analyst Ratings

Cowen launched coverage on PureCycle Technologies Inc. (NASDAQ: PCT) in its analyst report released on September 23, 2021. The firm assigned the stock a an Outperform rating. The consensus rating for PureCycle Technologies Inc. (PCT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PCT, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.

What is PCT’s price target for the next 12 months?

Analysts predict a range of price targets between $25.00 and $48.00, with a median target of $31.00. Taking a look at these predictions, the average price target given by analysts for PureCycle Technologies Inc. (PCT) stock is $35.40.


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