PureCycle Technologies, Inc. (NASDAQ:PCTTU) Short Interest Up 5,572.9% in June

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 3,347 shares, an increase of 5,572.9% from the May 31st total of 59 shares. Based on an average daily volume of 746 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, the company currently has a consensus rating of “Sell”.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCTTU traded down $0.59 during midday trading on Thursday, hitting $10.30. PureCycle Technologies has a 12 month low of $6.10 and a 12 month high of $16.50. The business has a 50-day moving average price of $8.86 and a two-hundred day moving average price of $9.88.

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.