PureCycle Technologies, Inc. (NASDAQ:PCTTU – Get Free Report) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 3,347 shares, a growth of 5,572.9% from the May 31st total of 59 shares. Based on an average daily volume of 746 shares, the days-to-cover ratio is currently 4.5 days.
PureCycle Technologies Stock Performance
Shares of NASDAQ PCTTU opened at $10.30 on Friday. The stock’s 50 day moving average price is $8.95 and its 200-day moving average price is $9.88. PureCycle Technologies has a twelve month low of $6.10 and a twelve month high of $16.50.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PureCycle Technologies presently has a consensus rating of “Sell”.
About PureCycle Technologies
PureCycle Technologies (NASDAQ: PCTTU) is a U.S.-based recycling and technology company specializing in the purification of post-consumer polypropylene waste. Headquartered in Orlando, Florida, PureCycle employs a proprietary, solvent-based purification process originally developed at Procter & Gamble to convert polypropylene feedstock—such as discarded food packaging, industrial scrap and consumer goods—into an ultra-pure recycled resin. The resulting Ultra-Pure Recycled Polypropylene (UPRP) offers performance characteristics nearly identical to virgin polypropylene, enabling its use in demanding applications across diverse industries.
The company was founded in 2015 as a joint venture with technology licensed from Procter & Gamble and subsequently spun out as an independent public company.
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