PureCycle Technologies, Inc. (NASDAQ:PCTTW) Sees Large Growth in Short Interest

PureCycle Technologies, Inc. (NASDAQ:PCTTW) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 114,253 shares, a growth of 30.6% from the March 15th total of 87,491 shares. Based on an average trading volume of 10,686 shares, the days-to-cover ratio is currently 10.7 days.

PureCycle Technologies Stock Performance

Shares of PCTTW stock traded up $0.05 on Wednesday, hitting $1.11. 7,673 shares of the stock traded hands, compared to its average volume of 32,635. The company’s fifty day moving average is $0.60 and its 200 day moving average is $1.45. PureCycle Technologies has a 1-year low of $0.16 and a 1-year high of $6.16.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc is a sustainable materials company that develops and licenses patented recycling technology designed to restore post‐consumer polypropylene waste to virgin‐like quality. The company’s core business activity centers on an innovative solvent‐based purification process, which removes contaminants and impurities from recycled polypropylene feedstock. This approach yields a product known as PureCycle Resin, a recycled polymer suitable for use in food‐grade packaging, consumer goods, automotive components, and other applications that traditionally rely on virgin plastics.

PureCycle offers both proprietary technology licensing and finished‐resin sales.