PureCycle Technologies, Inc. (NASDAQ:PCTTU) Sees Significant Decline in Short Interest

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 54 shares, a decline of 51.8% from the March 15th total of 112 shares. Based on an average daily trading volume, of 198 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

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

PureCycle Technologies Stock Up 1.6%

PCTTU opened at $6.20 on Friday. The firm’s 50-day simple moving average is $10.09 and its 200-day simple moving average is $12.80. PureCycle Technologies has a twelve month low of $6.10 and a twelve month 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.