PureCycle Technologies (NASDAQ:PCTTU) Trading Up 8.1% – Here’s Why

PureCycle Technologies, Inc. (NASDAQ:PCTTU) traded up 8.1% on Thursday . The company traded as high as $9.73 and last traded at $9.73. 800 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 1,133 shares. The stock had previously closed at $9.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PureCycle Technologies currently has a consensus rating of “Sell”.

PureCycle Technologies Stock Performance

The stock’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $14.42.

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.