Li-Cycle (NYSE:LICY) Stock Price Down 5.2%

Li-Cycle Holdings Corp. (NYSE:LICY) 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 trading, an increase of 4% from the average daily volume of 793,490 shares. The stock had previously closed at $7.18.

Analyst Ratings Changes

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

Li-Cycle Stock Performance

The firm’s fifty day moving average is $4.82 and its 200-day moving average is $5.01. The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $146.40 million, a PE ratio of -0.62 and a beta of 1.42.

Li-Cycle (NYSE:LICY) last released 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 company had revenue of $4.20 million during the quarter, compared to analysts’ expectations of $4.51 million.

Insiders Place Their Bets

In related news, Director Mark Wellings sold 6,408 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $4.32, for a total transaction of $27,682.56. Following the transaction, the director now owns 51,280 shares of the company’s stock, valued at approximately $221,529.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 10,267 shares of company stock worth $46,226 over the last ninety days. Corporate insiders own 17.68% of the company’s stock.

Institutional Investors Weigh In On Li-Cycle

Large investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its stake in shares of Li-Cycle by 2.8% in the 4th quarter. Primecap Management Co. CA now owns 3,280,200 shares of the company’s stock valued at $1,918,000 after buying an additional 90,800 shares during the period. Alps Advisors Inc. raised its holdings in shares of Li-Cycle by 4.1% in the 3rd quarter. Alps Advisors Inc. now owns 590,628 shares of the company’s stock valued at $2,097,000 after purchasing an additional 23,407 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Li-Cycle by 42.9% in the 4th 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. SG Americas Securities LLC purchased a new stake in shares of Li-Cycle during the 4th quarter worth $78,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of 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 purchasing an additional 59,800 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.