PureCycle Technologies (NASDAQ:PCTTU) Shares Down 6.4% – Here’s What Happened

PureCycle Technologies, Inc. (NASDAQ:PCTTU)’s stock price dropped 6.4% during trading on Monday . The stock traded as low as $11.00 and last traded at $10.30. 9 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,332 shares. The stock had previously closed at $11.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a report on Wednesday, August 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

PureCycle Technologies Stock Performance

The stock’s 50 day moving average is $10.56 and its two-hundred day moving average is $9.63.

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.