PureCycle Technologies, Inc. (NASDAQ:PCTTU – Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 22 shares, a decline of 92.4% from the September 30th total of 290 shares. Based on an average daily volume of 524 shares, the short-interest ratio is presently 0.0 days.
PureCycle Technologies Stock Down 9.3%
Shares of PCTTU stock traded down $0.31 during midday trading on Monday, reaching $3.03. 3,315 shares of the company were exchanged, compared to its average volume of 1,197. The company’s 50 day moving average price is $7.66 and its two-hundred day moving average price is $9.27. PureCycle Technologies has a 12 month low of $3.03 and a 12 month high of $16.50.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.
Read Our Latest Research Report on PCTTU
PureCycle Technologies Company Profile
PureCycle Technologies, Inc is a plastics recycling company focused on converting post-consumer and post-industrial polypropylene waste into recycled resin. The company’s process is designed to remove color, odor and other contaminants from used polypropylene, producing a material intended to have properties comparable to virgin polypropylene.
PureCycle’s technology was originally developed by The Procter & Gamble Company, which granted the company a license to commercialize the process.
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