PureCycle Technologies (NASDAQ:PCTTU) Shares Down 3.8% – Here’s Why

PureCycle Technologies, Inc. (NASDAQ:PCTTU) traded down 3.8% on Monday . The stock traded as low as $9.89 and last traded at $10.30. 4,467 shares changed hands during mid-day trading, an increase of 226% from the average session volume of 1,372 shares. The stock had previously closed at $10.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Sell”.

PureCycle Technologies Trading Down 3.8%

The firm has a fifty day simple moving average of $8.18 and a 200-day simple moving average of $10.25.

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.