PureCycle Technologies Inc. (NASDAQ:PCT) saw a downside of -11.49% to close Tuesday at $8.74 after subtracting -$1.14 on the day. The 5-day average trading volume is 3,913,080 shares of the company’s common stock. It has gained $10.53 in the past week and touched a new high 1 time within the past 5 days. An average of 2,096,325 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,127,596.
PCT’s 1-month performance is -20.06% or -$1.95 on its low of $8.02 reached on 08/22/23. The company’s shares have touched a 52-week low of $4.44 and high of $11.89, with the stock’s rally to the 52-week high happening on 07/31/23. YTD, PCT has achieved 29.36% or $1.98 and has reached a new high 16 times. However, the current price is down -26.45% from the 52-week high price.
Insider Transactions
PCT stock investors last saw insider trading activity on Dec 04.Olson Dustin (Chief Executive Officer) most recently sold 1,174 shares at $6.51 per share on Dec 04. This transaction cost the insider $7,643.
Valuation Metrics
PCT stock has a beta of 1.34. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 3.30.
PureCycle Technologies Inc.’s quick ratio for the period ended June 29 was 1.40, with the current ratio over the same period at 1.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.65, while the total debt to equity was 0.67. The firm’s gross profit as reported stood at -$2.64 million against revenue of $81.32 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 73.49% to -$56.58 million, while revenue of -$25.84 million was 54.33% off the previous quarter. Analysts expected PCT to announce -$0.13 per share in earnings in its latest quarter, but it posted -$0.35, representing a -169.20% surprise. EBITDA for the quarter stood at more than -$22.86 million. PCT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 458.79 million, with total debt at $320.01 million. Shareholders hold equity totaling $163.99 million.
Let’s look briefly at PureCycle Technologies Inc. (PCT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 27.24% to suggest the stock is trending oversold, with historical volatility in this time period at 79.50%.
The stock’s 5-day moving average is $9.59, reflecting a -15.75% or -$1.64 change from its current price. PCT is currently trading -20.86% above its 20-day SMA, +30.91% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +11.83% and SMA200 by+8.63%.
Stochastic %K and %D was 20.22% and 15.06% and the average true range (ATR) pointed at 0.79. The RSI (14) points at 34.33%, while the 14-day stochastic is at 19.54% with the period’s ATR at 0.75. The stock’s 9-day MACD Oscillator is pointing at -0.75 and -0.98 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for PureCycle Technologies Inc. (NASDAQ: PCT), Stifel launched coverage with a Buy rating. Analysts offering their rating for PCT stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate PCT as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.
What is PCT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $12.00 and a high of $18.00, with their median price target at $15.50. Looking at these predictions, the average price target given by analysts is for PureCycle Technologies Inc. (PCT) stock is $14.92.
