Li-Cycle (NYSE:LICY) Receives Neutral Rating from Chardan Capital

Chardan Capital reaffirmed their neutral rating on shares of Li-Cycle (NYSE:LICY) in a report published on Friday morning, Benzinga reports. The firm currently has a $0.75 price objective on the stock.

Li-Cycle Stock Performance

LICY opened at $0.67 on Friday. The firm has a market cap of $119.50 million, a P/E ratio of -0.87 and a beta of 1.37. Li-Cycle has a 1-year low of $0.35 and a 1-year high of $6.16. The company has a 50 day simple moving average of $0.73 and a two-hundred day simple moving average of $0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.89.

Li-Cycle (NYSE:LICY) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.38 earnings per share for the quarter. The business had revenue of $6.40 million during the quarter, compared to analyst estimates of $3.53 million. Li-Cycle had a negative net margin of 754.10% and a negative return on equity of 13.33%.

Insider Buying and Selling

In related news, CFO Debbie Simpson sold 81,845 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $0.41, for a total transaction of $33,556.45. Following the completion of the transaction, the chief financial officer now owns 357,447 shares in the company, valued at $146,553.27. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 148,359 shares of company stock worth $63,438. 23.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Li-Cycle

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Street Markets LLC bought a new position in shares of Li-Cycle during the fourth quarter worth $25,000. Tower Research Capital LLC TRC raised its stake in Li-Cycle by 135.6% during the first quarter. Tower Research Capital LLC TRC now owns 5,292 shares of the company’s stock valued at $30,000 after purchasing an additional 3,046 shares in the last quarter. Captrust Financial Advisors raised its stake in Li-Cycle by 38.2% during the first quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock valued at $49,000 after purchasing an additional 1,590 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Li-Cycle during the first quarter valued at $85,000. Finally, Cetera Advisor Networks LLC purchased a new stake in Li-Cycle during the second quarter valued at $56,000. Institutional investors own 54.12% of the company’s stock.

About Li-Cycle

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.