PureCycle Technologies, Inc. (NASDAQ:PCTTU) Short Interest Down 77.6% in March

PureCycle Technologies, Inc. (NASDAQ:PCTTU) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 112 shares, a drop of 77.6% from the February 26th total of 500 shares. Based on an average daily trading volume, of 56 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

PureCycle Technologies Stock Up 1.6%

Shares of NASDAQ PCTTU traded up $0.10 during midday trading on Friday, reaching $6.20. The company’s stock had a trading volume of 100 shares, compared to its average volume of 540. The business’s 50 day moving average price is $11.09 and its two-hundred day moving average price is $13.57. PureCycle Technologies has a fifty-two week low of $6.10 and a fifty-two week high of $12.60.

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.