PureCycle Technologies (NASDAQ:PCTTU) Trading Down 11.7% – Here’s What Happened

Shares of PureCycle Technologies, Inc. (NASDAQ:PCTTU) dropped 11.7% on Monday . The company traded as low as $8.59 and last traded at $8.59. Approximately 100 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,133 shares. The stock had previously closed at $9.73.

Analyst Upgrades and Downgrades

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

PureCycle Technologies Trading Down 11.7%

The business has a fifty day simple moving average of $12.37 and a 200 day simple moving average of $14.36.

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.