PureCycle Technologies, Inc. (NASDAQ:PCTTU) Sees Large Increase in Short Interest

PureCycle Technologies, Inc. (NASDAQ:PCTTU – Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 3,560 shares, an increase of 16,081.8% from the October 15th total of 22 shares. Based on an average daily volume of 992 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Analysis on PCTTU

PureCycle Technologies Price Performance

Shares of PCTTU opened at $4.70 on Wednesday. PureCycle Technologies has a 1 year low of $2.51 and a 1 year high of $16.50. The stock has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $8.90.

PureCycle Technologies Company Profile

(Get Free Report)

PureCycle Technologies develops and commercializes technology for recycling polypropylene, a plastic used in packaging, consumer goods and other products. Its solvent-based purification process is designed to remove color, odor and other contaminants from used polypropylene and produce recycled resin intended for applications that may require material similar to virgin plastic. The company’s technology originated with Procter & Gamble, which developed the process and licensed it to PureCycle for commercialization.

Further Reading

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