In the latest trading session, 0.45 million PureCycle Technologies Inc. (NASDAQ:PCT) shares changed hands as the company’s beta touched 1.41. With the company’s most recent per share price at $6.03 changed hands at -$0.15 or -2.43% at last look, the market valuation stands at $988.92M. PCT’s current price is a discount, trading about -97.18% off its 52-week high of $11.89. The share price had its 52-week low at $4.44, which suggests the last value was 26.37% up since then. When we look at PureCycle Technologies Inc.’s average trading volume, we note the 10-day average is 3.69 million shares, with the 3-month average coming to 2.37 million.
Analysts gave the PureCycle Technologies Inc. (PCT) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.60. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended PCT as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. PureCycle Technologies Inc.’s EPS for the current quarter is expected to be -$0.16.
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PureCycle Technologies Inc. (NASDAQ:PCT) trade information
Instantly PCT was in red as seen in intraday trades today. With action -29.39%, the performance over the past five days has been red. The drop to weekly highs of 8.44 on Friday, 09/15/23 subtracted -2.43% to the stock’s daily price. The company’s shares are showing year-to-date downside of -10.80%, with the 5-day performance at -29.39% in the red. However, in the 30-day time frame, PureCycle Technologies Inc. (NASDAQ:PCT) is -37.58% down. Looking at the short shares, we see there were 28.05 million shares sold at short interest cover period of 13.26 days.
The consensus price target for the stock as assigned by Wall Street analysts is $14.92, meaning bulls need an upside of 59.58% from its recent market value. According to analyst projections, PCT’s forecast low is $12.00 with $18.00 as the target high. To hit the forecast high, the stock’s price needs a -198.51% plunge from its current level, while the stock would need to soar -99.0% for it to hit the projected low.
PureCycle Technologies Inc. (PCT) estimates and forecasts
Data shows that the PureCycle Technologies Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -3.37% over the past 6 months, a -38.60% in annual growth rate that is considerably lower than the industry average of 17.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for PureCycle Technologies Inc. will rise 23.80%, while the growth in revenue is estimated to hit -180.00% for the next quarter.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $5.06 million. 5 analysts are of the opinion that PureCycle Technologies Inc.’s revenue for the quarter ending Dec 2023 will be $15.7 million.
The 2023 estimates are for PureCycle Technologies Inc. earnings to increase by 27.80%.
PCT Dividends
PureCycle Technologies Inc. is expected to release its next quarterly earnings report between November 07 and November 13.
PureCycle Technologies Inc. (NASDAQ:PCT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 22.78% of PureCycle Technologies Inc. shares while 61.76% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.97%. There are 61.76% institutions holding the PureCycle Technologies Inc. stock share, with Sylebra Capital Ltd the top institutional holder. As of Jun 29, 2023, the company held 17.80% of the shares, roughly 29.19 million PCT shares worth $312.08 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.63% or 12.52 million shares worth $133.82 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 4.25 million shares estimated at $45.48 million under it, the former controlled 2.59% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.06% of the shares, roughly 3.38 million shares worth around $36.13 million.
