The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Li-Cycle Holdings Corp shares valued at $33,777 were sold by Simpson Debbie on Feb 01 ’24. At $0.41 per share, Simpson Debbie sold 81,845 shares. The insider’s holdings dropped to 357,447 shares worth approximately $0.4 million following the completion of this transaction.
Also, Johnston Timothy sold 10,929 shares, netting a total of over 4,510 in proceeds. Following the sale of shares at $0.41 each, the insider now holds 555,256 shares.
Before that, Kochhar Ajay had sold 10,929 shares from its account. In a trade valued at $4,510, the President and CEO traded Li-Cycle Holdings Corp shares for $0.41 each. Upon closing the transaction, the insider’s holdings decreased to 10,929 shares, worth approximately $0.31 million.
As published in a research note from UBS on November 16, 2023, Li-Cycle Holdings Corp [LICY] has been rated down from a Buy to a Neutral. Analysts at Chardan Capital Markets downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid November. As of October 23, 2023, TD Cowen has decreased its “an Outperform” rating to a “Market perform” for LICY. Earlier on May 04, 2023, Cantor Fitzgerald initiated its rating. Their recommendation was “a Buy” for LICY stock.
Analyzing LICY Stock Performance
During the last five days, there has been a surge of approximately 22.19%. Over the course of the year, Li-Cycle Holdings Corp shares have jumped approximately 91.52%. Shares of the company reached a 52-week high of $1.9200 on 03/19/24 and a 52-week low of $0.3500 on 01/19/24. A 50-day SMA is recorded $0.6601, while a 200-day SMA reached $2.3688. Nevertheless, trading volume fell to 2.18 million shares from 5.08 million shares the previous day.
Support And Resistance Levels for Li-Cycle Holdings Corp (LICY)
According to the 24-hour chart, there is a support level at 1.0633, which, if violated, would cause prices to drop to 1.0067. In the upper region, resistance lies at 1.1633. The next price resistance is at 1.2067. RSI (Relative Strength Index) is 61.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1003, which suggests the price will decrease in the coming days. Percent R is at 40.96%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Li-Cycle Holdings Corp subject to short interest?
Stocks of Li-Cycle Holdings Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 4.75 million shares to 20.08 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 15.33 million shares. A jump of 23.66% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.07 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.07.
