PureCycle Technologies Inc (NASDAQ: PCT)’s stock price has dropped by -1.16 in relation to previous closing price of 5.17. Nevertheless, the company has seen a gain of 9.42% in its stock price over the last five trading days. InvestorPlace reported 2024-04-02 that There are some industrial stocks that short sellers are targeting heavily in April this year. Short sellers often target stocks they perceive to be overvalued or companies facing significant challenges or headwinds.
Is It Worth Investing in PureCycle Technologies Inc (NASDAQ: PCT) Right Now?
The 36-month beta value for PCT is also noteworthy at 1.64. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for PCT is 139.60M, and at present, short sellers hold a 27.34% of that float. The average trading volume of PCT on May 07, 2024 was 2.13M shares.
PCT’s Market Performance
PCT’s stock has seen a 9.42% increase for the week, with a -14.12% drop in the past month and a 6.90% gain in the past quarter. The volatility ratio for the week is 7.91%, and the volatility levels for the past 30 days are at 6.06% for PureCycle Technologies Inc The simple moving average for the last 20 days is -2.05% for PCT’s stock, with a simple moving average of -11.05% for the last 200 days.
Analysts’ Opinion of PCT
Many brokerage firms have already submitted their reports for PCT stocks, with Craig Hallum repeating the rating for PCT by listing it as a “Hold.” The predicted price for PCT in the upcoming period, according to Craig Hallum is $4 based on the research report published on January 03, 2024 of the current year 2024.
ROTH MKM, on the other hand, stated in their research note that they expect to see PCT reach a price target of $3. The rating they have provided for PCT stocks is “Neutral” according to the report published on December 19th, 2023.
PCT Trading at -7.03% from the 50-Day Moving Average
After a stumble in the market that brought PCT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -57.02% of loss for the given period.
Volatility was left at 6.06%, however, over the last 30 days, the volatility rate increased by 7.91%, as shares sank -14.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.02% lower at present.
During the last 5 trading sessions, PCT rose by +8.03%, which changed the moving average for the period of 200-days by -52.85% in comparison to the 20-day moving average, which settled at $5.17. In addition, PureCycle Technologies Inc saw 26.17% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PCT starting from Musa Fernando, who purchase 18,303 shares at the price of $5.46 back on Mar 08 ’24. After this action, Musa Fernando now owns 68,413 shares of PureCycle Technologies Inc, valued at $99,934 using the latest closing price.
Somma Lawrence C, the Chief Financial Officer of PureCycle Technologies Inc, purchase 12,510 shares at $3.99 during a trade that took place back on Nov 16 ’23, which means that Somma Lawrence C is holding 420,371 shares at $49,965 based on the most recent closing price.
Stock Fundamentals for PCT
The total capital return value is set at -0.11. Equity return is now at value -21.95, with -10.75 for asset returns.
Based on PureCycle Technologies Inc (PCT), the company’s capital structure generated 0.55 points at debt to capital in total, while cash flow to debt ratio is standing at -0.11. The debt to equity ratio resting at 1.23. The interest coverage ratio of the stock is -3.84.
Currently, EBITDA for the company is -95.04 million with net debt to EBITDA at -8.51. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.92.
Conclusion
In summary, PureCycle Technologies Inc (PCT) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
