PureCycle Technologies, Inc. (NASDAQ:PCTTU) Stock Short Interest Report for September

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 290 shares, a growth of 1,833.3% from the September 15th total of 15 shares. Based on an average trading volume of 99 shares, the days-to-cover ratio is presently 2.9 days.

PureCycle Technologies Stock Down 3.8%

Shares of NASDAQ:PCTTU traded down $0.17 during midday trading on Friday, hitting $4.21. The stock had a trading volume of 1,202 shares, compared to its average volume of 1,214. The stock has a 50 day moving average price of $9.25 and a two-hundred day moving average price of $8.97. PureCycle Technologies has a 1 year low of $4.31 and a 1 year high of $16.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a report on Wednesday, August 26th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, PureCycle Technologies currently has an average rating of “Sell”.

About PureCycle Technologies

PureCycle Technologies, Inc is a plastics recycling company that develops and operates technology designed to convert waste polypropylene into recycled polypropylene resin. Its process is intended to remove color, odor and other contaminants from post-consumer and post-industrial plastic, producing a material with properties comparable to virgin polypropylene.

The company’s recycled polypropylene can be used in applications such as packaging, consumer products, automotive components and other manufactured goods.