PureCycle Technologies, Inc. (NASDAQ:PCTTU) Sees Significant Decrease in Short Interest

PureCycle Technologies, Inc. (NASDAQ:PCTTU) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 22 shares, a decrease 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 Trading Down 9.3%

PCTTU stock traded down $0.31 during midday trading on Tuesday, hitting $3.03. 3,315 shares of the company traded hands, compared to its average volume of 1,197. PureCycle Technologies has a twelve month low of $3.03 and a twelve month high of $16.50. The business has a 50 day simple moving average of $7.66 and a 200-day simple moving average of $9.27.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Wednesday, August 26th. One analyst has rated the stock with a Sell rating. According to MarketBeat, PureCycle Technologies presently has an average rating of “Sell”.

About PureCycle Technologies

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.