Insider Selling: Li-Cycle Holdings Corp. (NYSE:LICY) Director Sells 15,612 Shares of Stock

Li-Cycle Holdings Corp. (NYSE:LICY) Director Mark Wellings sold 15,612 shares of Li-Cycle stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $0.66, for a total transaction of $10,303.92. Following the transaction, the director now directly owns 169,158 shares of the company’s stock, valued at $111,644.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Li-Cycle Stock Performance

Shares of NYSE:LICY opened at $0.71 on Friday. The firm has a market capitalization of $126.90 million, a PE ratio of -0.92 and a beta of 1.52. Li-Cycle Holdings Corp. has a 1 year low of $0.35 and a 1 year high of $6.16. The business’s 50 day moving average price is $0.79 and its 200-day moving average price is $0.80. 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 issued its earnings results on Friday, March 15th. The company reported $0.38 earnings per share (EPS) for the quarter. The company had revenue of $6.40 million during the quarter, compared to analysts’ expectations of $3.53 million. Li-Cycle had a negative return on equity of 13.33% and a negative net margin of 754.10%.

Institutional Trading of Li-Cycle

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its stake in shares of Li-Cycle by 215.7% in the third quarter. Hsbc Holdings PLC now owns 47,525 shares of the company’s stock worth $168,000 after acquiring an additional 32,471 shares in the last quarter. SG Americas Securities LLC purchased a new position in Li-Cycle in the fourth quarter valued at approximately $78,000. Fox Run Management L.L.C. acquired a new stake in Li-Cycle during the 3rd quarter worth $109,000. Jump Financial LLC acquired a new stake in shares of Li-Cycle during the third quarter worth about $109,000. Finally, B. Riley Wealth Advisors Inc. increased its position in Li-Cycle by 149.9% during 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 during the period. 54.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Chardan Capital reaffirmed a “neutral” rating and issued a $0.75 price target on shares of Li-Cycle in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Li-Cycle presently has an average rating of “Hold” and a consensus target price of $5.25.

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.