The stock of PureCycle Technologies Inc. (NASDAQ:PCT) increased by $0.35 on Tuesday to finish at $6.27, up 5.91 percent. The last five days have seen an average of 5,870,560 shares of common stock traded. 16 times new highs were reached in the current year, with a fall of -$0.49. The average number of shares traded over the last 20 days was 3,479,665, while the average volume over the last 50 days totaled 2,304,350.
PCT stock dropped -34.69% since last month. On 09/19/23, the company’s shares reached a one-month low of $5.78. The stock touched a high of $11.89 on 07/31/23, after rallying from a low of $4.44 in 52 weeks. The price of PCT stock has declined by -7.25% or -$0.49 this year, reaching a new high 16 times. Still, the stock price is down -47.27% from the 52-week high.
Insider Transactions
PCT stock investors should be aware that PureCycle Technologies Inc. (PCT) stock had its last reported insider trading activity 290 days ago on Dec 04. On Dec 04, Chief Executive Officer Olson Dustin sold 1,174 shares at $6.51 each. This transaction resulted in the insider making $7,643.
Financial Health
For the three months ended June 29, PureCycle Technologies Inc.’s quick ratio was 1.40, while its current ratio was 1.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.65, and the total debt to equity ratio is 0.67. Based on annual data, it had gross profit of -$2.64 million and revenue of $81.32 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PCT’s return on assets (ROA) during the last 12 months has been -14.40%. In the meantime, the return on equity (ROE) for the last 12 months was -26.00%.
Earnings Surprise
According to PureCycle Technologies Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that PureCycle Technologies Inc.’s quarterly earnings would be -$0.35, but it ended up being -$0.13, beating the consensus by -169.20%. EBITDA was -$22.86 million for the quarter. At the end of PureCycle Technologies Inc.’s most recent quarter ended June 29, its liabilities totaled 458.79 million, while its total debt was $320.01 million. Equity owned by shareholders amounts to $163.99 million.
Technical Picture
Here’s a quick look at PureCycle Technologies Inc.’s (PCT) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 20.64%, suggesting the stock is oversold, with a 105.18% historical volatility rate.
The stochastic %K and %D were 7.27% and 7.57% respectively, while the average true range (ATR) was 0.60. Based on the 14-day stochastic reading of 13.57%, the RSI (14) reading is 24.54%. On the 9-day MACD Oscillator, the stock is at -1.18, and the 14-day reading is at -1.80.
Analyst Ratings
In its analyst report released on September 16, 2022, Stifel began covering PureCycle Technologies Inc. (NASDAQ: PCT). The stock was rated as a Buy by the brokerage firm. Analysts have assigned PureCycle Technologies Inc. (PCT) an Buy rating. PCT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is PCT’s price target for the next 12 months?
The current consensus forecast for the stock is between $12.00 and $18.00, with a median target price of $15.50. In analyzing these forecasts, the average price target given by analysts for PureCycle Technologies Inc. (PCT) is $14.92.
