The Vanguard Group, Inc. has recently announced that it has increased stake in PureCycle Technologies Inc. (NASDAQ:PCT) by 1.71%. After grabbing 10.27 million shares, the institutional investor is now in possession of 0.17 million shares of the Industrials Company. The new investment brought the stake of investor firm to 6.28% having worth around $67.5 million. Moreover, Abundance Wealth Counselors LLC increased its share by 1.99 million to have a control over 7.74 million shares. And BlackRock Fund Advisors raised its holdings to 0.11 million shares by acquiring 6.57 million shares or 4.02% of the stake.
PureCycle Technologies Inc. (PCT) concluded trading on 05/24/23 at a closing price of $7.15, with 1.12 million shares of worth about $8.04 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 17.41% during that period and on Wednesday the price saw a loss of about -1.38%. Currently the company’s common shares owned by public are about 163.67M shares, out of which, 109.02M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the PCT stock and their offered price forecasts bring an average price target of $12.42. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $16.00 and could fall to a lowest price of $9.00. The stock’s current price level is 40.42% above of average price target set by the analysts, while a rise to estimated low would result in gain of 20.56% for the stock. However, touching the estimated high of $16.00 would mean a gain of 55.31% for the stock.
Vanguard Total Stock Market ETF, BNP Paribas Funds – Energy Transi, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in PureCycle Technologies Inc. Vanguard Total Stock Market ETF is currently holding 3.27 million shares of worth totaling $21.51 million. The company recently came buying 0.0 shares which brought its stake up to 2.00% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after selling 2.77 million shares, have now control over 1.69% of the stake in the company. It holds 678.0 shares of worth $18.22 million.
PureCycle Technologies Inc. (NASDAQ: PCT) started trading at $7.16, below -$0.09 from concluding price of the previous day. However, the stock later moved at a day high price of 7.22, or with a loss of -1.38%. Stock saw a price change of 4.38% in past 5 days and over the past one month there was a price change of 28.60%. Year-to-date (YTD), PCT shares are showing a performance of 5.77% which decreased to -27.41% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.44 but also hit the highest price of $10.95 during that period. The average intraday trading volume for PureCycle Technologies Inc. shares is 2.18 million. The stock is currently trading 4.71% above its 20-day simple moving average (SMA20), while that difference is up 12.30% for SMA50 and it goes to -3.60% lower than SMA200.
The Vanguard Group, Inc. acquired 10.27 million shares of PureCycle Technologies Inc. having value of about $67.5 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.17 million shares in the company valued at close to $1234926.55, or have control over 1.71% stake in the company. PureCycle Technologies Inc. (NASDAQ: PCT) currently have 163.67M outstanding shares and institutions hold larger chunk of about 60.60% of that. Holding of mutual funds in the company is about 16.29% while other institutional holders and individual stake holders have control over 45.49% and 14.93% of the stake respectively.
The stock has a current market capitalization of $1.21B. It has posted earnings per share of -$0.52 in the same period. It has Quick Ratio of 1.60 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PCT, volatility over the week remained 5.90% while standing at 7.91% over the month.
Analysts are in expectations that PureCycle Technologies Inc. (PCT) stock would likely to be making an EPS of -$0.15 in the current quarter, while forecast for next quarter EPS is -$0.1 and it is -$0.16 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.17 which is -$0.11 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.09 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 27.80% while it is estimated to increase by 60.00% in next year.
Analysts at 6 brokerage firms have issued recommendations for the PureCycle Technologies Inc. (PCT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 6 Wall Street analysts, 6 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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