Short Interest in PureCycle Technologies, Inc. (NASDAQ:PCTTU) Drops By 90.3%

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 325 shares, a decrease of 90.3% from the June 15th total of 3,347 shares. Based on an average daily trading volume, of 489 shares, the days-to-cover ratio is presently 0.7 days.

PureCycle Technologies Trading Down 6.4%

Shares of NASDAQ PCTTU traded down $0.70 during trading hours on Friday, hitting $10.30. PureCycle Technologies has a 12 month low of $6.10 and a 12 month high of $16.50. The stock’s fifty day moving average price is $9.73 and its two-hundred day moving average price is $9.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, May 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

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.