PureCycle Technologies (NASDAQ:PCTTU) Shares Up 43.4% – Here’s Why

PureCycle Technologies, Inc. (NASDAQ:PCTTU)’s share price traded up 43.4% during trading on Monday . The company traded as high as $5.42 and last traded at $7.7710. Approximately 226 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,331 shares. The stock had previously closed at $5.42.

Analyst Upgrades and Downgrades

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

PureCycle Technologies Stock Performance

The stock’s fifty day moving average price is $10.38 and its two-hundred day moving average price is $9.07.

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.