PureCycle Technologies Inc (NASDAQ: PCT) Share Price Might Move Down By -17.09%

In the last trading session, 1.9 million shares of the PureCycle Technologies Inc (NASDAQ:PCT) were traded, and its beta was 1.56. Most recently the company’s share price was $5.82, and it changed around -$0.06 or -1.02% from the last close, which brings the market valuation of the company to $957.04M. PCT currently trades at a discount to its 52-week high of $11.89, offering almost -104.3% off that amount. The share price’s 52-week low was $2.38, which indicates that the current value has risen by an impressive 59.11% since then. We note from PureCycle Technologies Inc’s average daily trading volume that its 10-day average is 1.82 million shares, with the 3-month average coming to 2.83 million.

PureCycle Technologies Inc (NASDAQ:PCT) trade information

Instantly PCT has showed a red trend with a performance of -1.02% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 43.70% year-to-date, but still down -3.80% over the last five days. On the other hand, PureCycle Technologies Inc (NASDAQ:PCT) is -4.12% down in the 30-day period. We can see from the shorts that 38.4 million shares have been sold at a short interest cover period of 14.35 day(s).

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The consensus price target as assigned by Wall Street analysts is $11, which translates to bulls needing to increase their stock price by 47.09% from its current value. Analyst projections state that PCT is forecast to be at a low of $11 and a high of $11.

PureCycle Technologies Inc (PCT) estimates and forecasts

PureCycle Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.74 percent over the past six months and at a 30.26% annual growth rate that is well above the industry average of 17.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -6.30% in revenue this quarter, and will report an increase of 57.10% in the next quarter.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $1.15 million in revenue for the current quarter. 4 analysts expect PureCycle Technologies Inc to make $5.1 million in revenue for the quarter ending Jun 2024.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -650.29%.

PCT Dividends

PureCycle Technologies Inc’s next quarterly earnings report is expected to be released around May 06 and May 10.

PureCycle Technologies Inc (NASDAQ:PCT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 22.39% of PureCycle Technologies Inc shares, and 61.43% of them are in the hands of institutional investors. The stock currently has a share float of 79.16%. PureCycle Technologies Inc stock is held by 248 institutions, with Sylebra Capital Ltd being the largest institutional investor. By Jun 29, 2023, it held 17.80% of the shares, which is about 29.19 million shares worth $312.08 million.

Vanguard Group Inc, with 7.63% or 12.52 million shares worth $133.82 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 4.25 million shares worth $45.48 million, making up 2.59% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 3.38 million shares worth around $36.13 million, which represents about 2.06% of the total shares outstanding.