PureCycle Technologies (NASDAQ:PCTTW) Stock Price Up 28.5% – Still a Buy?

PureCycle Technologies, Inc. (NASDAQ:PCTTW) shares shot up 28.5% on Wednesday . The stock traded as high as $2.57 and last traded at $2.57. Approximately 556 shares changed hands during trading, a decline of 98% from the average daily volume of 22,881 shares. The stock had previously closed at $2.00.

PureCycle Technologies Price Performance

The business’s fifty day simple moving average is $2.15 and its 200-day simple moving average is $1.74.

Institutional Trading of PureCycle Technologies

A number of institutional investors have recently modified their holdings of the company. Sigma Planning Corp purchased a new position in PureCycle Technologies during the 2nd quarter valued at about $87,000. Hsbc Holdings PLC bought a new position in PureCycle Technologies during the 2nd quarter valued at approximately $103,000. Two Sigma Securities LLC purchased a new stake in PureCycle Technologies in the 2nd quarter worth approximately $122,000. Bluefin Capital Management LLC purchased a new stake in PureCycle Technologies in the 2nd quarter worth approximately $408,000. Finally, Moore Capital Management LP bought a new stake in shares of PureCycle Technologies in the 2nd quarter worth approximately $608,000.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc is a sustainable materials company that develops and licenses patented recycling technology designed to restore post?consumer polypropylene waste to virgin?like quality. The company’s core business activity centers on an innovative solvent?based purification process, which removes contaminants and impurities from recycled polypropylene feedstock. This approach yields a product known as PureCycle Resin, a recycled polymer suitable for use in food?grade packaging, consumer goods, automotive components, and other applications that traditionally rely on virgin plastics.

PureCycle offers both proprietary technology licensing and finished?resin sales.