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

PureCycle Technologies, Inc. (NASDAQ:PCTTU) was the target of a large increase in short interest during 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 trading volume, of 992 shares, the days-to-cover ratio is currently 3.6 days.

PureCycle Technologies Stock Performance

Shares of PCTTU traded up $0.23 during mid-day trading on Tuesday, hitting $4.70. 1,705 shares of the company’s stock were exchanged, compared to its average volume of 1,291. The firm has a fifty day moving average of $6.26 and a two-hundred day moving average of $8.94. PureCycle Technologies has a twelve month low of $2.51 and a twelve month high of $16.50.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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.com, the company currently has an average rating of “Sell”.

PureCycle Technologies Company Profile

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.