PureCycle Technologies, Inc. (NASDAQ:PCTTU) Shares Shorted: Short Interest Up 1,833.3% in September

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 290 shares, a growth of 1,833.3% from the September 15th total of 15 shares. Based on an average trading volume of 99 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Ratings Changes

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

PureCycle Technologies Stock Down 3.8%

Shares of PCTTU stock opened at $4.21 on Friday. PureCycle Technologies has a one year low of $4.31 and a one year high of $16.50. The stock has a fifty day moving average price of $9.11 and a 200 day moving average price of $8.94.

About PureCycle Technologies

PureCycle Technologies, Inc is a plastics recycling company that develops and operates technology designed to convert waste polypropylene into recycled polypropylene resin. Its process is intended to remove color, odor and other contaminants from post-consumer and post-industrial plastic, producing a material with properties comparable to virgin polypropylene.

The company’s recycled polypropylene can be used in applications such as packaging, consumer products, automotive components and other manufactured goods.