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 $15,669 were sold by Wellings Mark on Aug 13 ’24. At $2.51 per share, Wellings Mark sold 6,250 shares. The insider’s holdings dropped to 45,030 shares worth approximately $86907.9 following the completion of this transaction.
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Also, DeLuca Carl sold 1,376 shares, netting a total of over 3,440 in proceeds. Following the sale of shares at $2.50 each, the insider now holds 101,672 shares.
Before that, Biederman Christopher J. had sold 905 shares from its account. In a trade valued at $2,262, the Chief Technical Officer traded Li-Cycle Holdings Corp shares for $2.50 each. Upon closing the transaction, the insider’s holdings decreased to 905 shares, worth approximately $0.17 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 drop of approximately -22.49%. Over the course of the year, Li-Cycle Holdings Corp shares have dropped approximately -58.75%. Shares of the company reached a 52-week high of $15.36 on 03/19/24 and a 52-week low of $1.87 on 08/22/24. A 50-day SMA is recorded $3.94, while a 200-day SMA reached $5.07. Nevertheless, trading volume fell to 0.64 million shares from 0.75 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 1.83, which, if violated, would cause prices to drop to 1.72. In the upper region, resistance lies at 2.08. The next price resistance is at 2.22. RSI (Relative Strength Index) is 26.42 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 95.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
