Primecap Management Co. CA Sells 2,870,175 Shares of Li-Cycle Holdings Corp. (NYSE:LICY)

Primecap Management Co. CA decreased its position in Li-Cycle Holdings Corp. (NYSE:LICY) by 87.5% during the second quarter, Holdings Channel reports. The fund owned 410,025 shares of the company’s stock after selling 2,870,175 shares during the period. Primecap Management Co. CA’s holdings in Li-Cycle were worth $2,677,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Catalina Capital Group LLC purchased a new stake in shares of Li-Cycle during the 1st quarter valued at about $40,000. Bleakley Financial Group LLC bought a new stake in Li-Cycle during the first quarter valued at approximately $45,000. Simplicity Wealth LLC purchased a new stake in Li-Cycle during the first quarter valued at approximately $45,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Li-Cycle in the first quarter worth approximately $56,000. Finally, Summit Securities Group LLC purchased a new position in shares of Li-Cycle during the 2nd quarter worth $68,000. 54.12% of the stock is owned by hedge funds and other institutional investors.

Li-Cycle Trading Up 4.4 %

Shares of LICY stock opened at $2.13 on Thursday. Li-Cycle Holdings Corp. has a 1 year low of $1.22 and a 1 year high of $34.92. The firm has a fifty day moving average price of $2.56 and a 200-day moving average price of $4.54. The company has a market cap of $47.93 million, a price-to-earnings ratio of -0.20 and a beta of 1.49. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.75 and a quick ratio of 0.68.

Li-Cycle (NYSE:LICY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.36) EPS for the quarter. Li-Cycle had a negative return on equity of 42.36% and a negative net margin of 878.90%. The company had revenue of $8.40 million during the quarter, compared to analysts’ expectations of $4.28 million.

Li-Cycle 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.