PureCycle Technologies, Inc. (NASDAQ:PCTTU) Sees Large Growth in Short Interest

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 3,347 shares, an increase of 5,572.9% from the May 31st total of 59 shares. Based on an average daily volume of 746 shares, the short-interest ratio is currently 4.5 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

PureCycle Technologies Stock Down 5.4%

Shares of NASDAQ PCTTU opened at $10.30 on Friday. PureCycle Technologies has a 12 month low of $6.10 and a 12 month high of $16.50. The business has a fifty day simple moving average of $8.86 and a 200-day simple moving average of $9.88.

PureCycle Technologies Company Profile

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.