Loop Industries downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Amit Dayal downgraded Loop Industries to Neutral from Buy without a price target. The analyst cites the near-term uncertainty around commercialization created by the company’s decision to sell its Becancour site, departure of its CFO, and plans to curtail operations at the Terrebonne facility for the downgrade. Though Loop’s partnership for project buildouts with SK Geo Centric and Suez remain in place, there is now some uncertainty on how those deals will be structured and what shape the company’s contribution will take, Dayal tells investors in a research note.