Li-Cycle (NYSE:LICY) Shares Down 5.2%

Li-Cycle Holdings Corp. (NYSE:LICY)’s share price dropped 5.2% during mid-day trading on Wednesday . The company traded as low as $6.69 and last traded at $6.81. Approximately 824,162 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 793,490 shares. The stock had previously closed at $7.18.

Wall Street Analyst Weigh In

Separately, Chardan Capital reissued a “neutral” rating and issued a $6.00 price target on shares of Li-Cycle in a report on Friday, April 19th.

Li-Cycle Stock Performance

The company’s 50-day moving average price is $4.76 and its 200 day moving average price is $4.98. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.11 and a current ratio of 1.16. The stock has a market capitalization of $152.48 million, a PE ratio of -0.65 and a beta of 1.42.

Li-Cycle (NYSE:LICY) last issued its quarterly earnings results on Friday, May 10th. The company reported ($6.08) earnings per share (EPS) for the quarter. Li-Cycle had a negative net margin of 1,244.97% and a negative return on equity of 44.25%. The business had revenue of $4.20 million for the quarter, compared to analysts’ expectations of $4.51 million.

Insider Activity at Li-Cycle

In other Li-Cycle news, Director Mark Wellings sold 6,408 shares of Li-Cycle stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $4.32, for a total value of $27,682.56. Following the completion of the transaction, the director now directly owns 51,280 shares of the company’s stock, valued at $221,529.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 10,267 shares of company stock valued at $46,226 in the last three months. Company insiders own 17.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in Li-Cycle by 215.7% during the third quarter. Hsbc Holdings PLC now owns 47,525 shares of the company’s stock valued at $168,000 after buying an additional 32,471 shares during the period. SG Americas Securities LLC purchased a new position in shares of Li-Cycle in the fourth quarter worth $78,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Li-Cycle by 149.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 99,700 shares of the company’s stock worth $354,000 after buying an additional 59,800 shares in the last quarter. Primecap Management Co. CA raised its stake in Li-Cycle by 2.8% during the fourth quarter. Primecap Management Co. CA now owns 3,280,200 shares of the company’s stock valued at $1,918,000 after purchasing an additional 90,800 shares in the last quarter. Finally, Green Alpha Advisors LLC raised its stake in Li-Cycle by 42.9% during the fourth quarter. Green Alpha Advisors LLC now owns 238,408 shares of the company’s stock valued at $139,000 after purchasing an additional 71,610 shares in the last quarter. 54.12% of the stock is owned by hedge funds and other institutional investors.

Li-Cycle Company Profile

Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America. The company offers a mix of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum; and copper and aluminum metals.