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

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 325 shares, a drop 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 currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

PureCycle Technologies Price Performance

PureCycle Technologies stock traded down $0.70 during trading hours on Friday, hitting $10.30. PureCycle Technologies has a fifty-two week low of $6.10 and a fifty-two week high of $16.50. The company has a 50-day moving average price of $9.73 and a 200-day moving average price of $9.84.

About PureCycle Technologies

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.