The trading price of PureCycle Technologies Inc (NASDAQ:PCT) closed higher on Thursday, March 29, closing at $6.22, 2.81% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $11.89 and a 52-week low of $2.38. Over the past month, the stock has gained 11.67% in value.
PureCycle Technologies Inc, whose market valuation is $1.02 billion at the time of this writing, is expected to release its quarterly earnings report May 06, 2024 – May 10, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.17 per share this quarter, however they have predicted annual earnings per share of -$0.52 for 2024 and -$0.43 for 2025. It means analysts are expecting annual earnings per share growth of 16.10% this year and 17.30% next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $50.8 million.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of PureCycle Technologies Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest PCT has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently Hold.
A quick review shows that PCT’s price is currently 10.67% off the SMA20 and 25.69% off the SMA50. The RSI metric on the 14-day chart is currently showing 62.05, and weekly volatility stands at 5.73%. When measured over the past 30 days, the indicator reaches 9.85%. PureCycle Technologies Inc (NASDAQ:PCT)’s beta value is currently sitting at 1.54, while the Average True Range indicator is currently displaying 0.46.
To see how PureCycle Technologies Inc stock has been performing in comparison to its peers in the industry, here are the numbers: PCT stock’s performance was 2.81% in the latest trading, and -1.74% in the past year.
An evaluation of the daily trading volume of PureCycle Technologies Inc (NASDAQ:PCT) indicates that the 3-month average is 2.84 million. However, this figure has increased over the past 10 days to an average of 1.97 million.
Currently, records show that 163.55 million of the company’s shares remain outstanding. The insiders hold 23.41% of outstanding shares, whereas institutions hold 60.94%. The stats also highlight that short interest as of Mar 15, 2024, stood at 38.4 million shares, resulting in a short ratio of 14.35 at that time. From this, we can conclude that short interest is 23.37% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 36.71 million. However, since the stock’s price has seen 53.58% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
