What Analysts Were Expecting After PureCycle Technologies Inc (NASDAQ: PCT) fell -1.72%

PureCycle Technologies Inc (NASDAQ:PCT) shares, rose in value, with the stock price down by -1.72% to the previous day’s close as strong demand from buyers drove the stock to $5.72.

Actively observing the price movement in the last trading, the stock closed the session at $5.82. The value of beta (5-year monthly) was 1.54. Referring to stock’s 52-week performance, its high was $11.89, and the low was $2.38. On the whole, PCT has fluctuated by -5.30% over the past month.

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With the market capitalization of PureCycle Technologies Inc currently standing at about $940.60 million, investors are eagerly awaiting this quarter’s results, scheduled for May 06, 2024 – May 10, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.11 for fiscal year -$0.52 and then to about -$0.43 by fiscal year 2025. Data indicates that the EPS growth is expected to be 16.10% in 2025, while the next year’s EPS growth is forecast to be 17.30%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PCT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PCT currently trading nearly 1.75% and 11.75% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.07, while the 7-day volatility ratio is showing 6.08% which for the 30-day chart, stands at 9.25%. Furthermore, PureCycle Technologies Inc (PCT)’s beta value is 1.56, and its average true range (ATR) is 0.44.

A comparison of PureCycle Technologies Inc (PCT) with its peers suggests the former has fared considerably weaker in the market. PCT showed an intraday change of -1.72% in last session, and over the past year, it shrunk by -18.29%%.

Data on historical trading for PureCycle Technologies Inc (NASDAQ:PCT) indicates that the trading volumes over the past 10 days have averaged 1.82 million and over the past 3 months, they’ve averaged 2.82 million. According to company’s latest data on outstanding shares, there are 163.55 million shares outstanding.

Nearly 23.41% of PureCycle Technologies Inc’s shares belong to company insiders and institutional investors own 60.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 38.4 million shares as on Mar 15, 2024, resulting in a short ratio of 14.35. According to the data, the short interest in PureCycle Technologies Inc (PCT) stood at 23.37% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 36.71 million. The stock has risen by 41.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PCT stock heading into the next quarter.