Short Interest in Li-Cycle Holdings Corp. (NYSE:LICY) Declines By 25.2%

Li-Cycle Holdings Corp. (NYSE:LICY) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 1,010,000 shares, a decrease of 25.2% from the June 30th total of 1,350,000 shares. Based on an average daily volume of 519,800 shares, the days-to-cover ratio is presently 1.9 days. Currently, 7.0% of the shares of the company are sold short.

Li-Cycle Price Performance

Shares of LICY stock traded up $0.06 during trading hours on Friday, reaching $3.69. The stock had a trading volume of 108,596 shares, compared to its average volume of 468,763. The stock’s fifty day simple moving average is $4.38 and its 200 day simple moving average is $4.90. 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 firm has a market capitalization of $82.62 million, a PE ratio of -0.35 and a beta of 1.56. Li-Cycle has a 12 month low of $2.77 and a 12 month high of $49.25.

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

Insider Buying and Selling at Li-Cycle

In related news, Director Mark Wellings sold 6,408 shares of the firm’s stock in a transaction that occurred on 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 approximately $221,529.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 10,267 shares of company stock valued at $46,226 over the last three months. 17.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Li-Cycle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC bought a new position in shares of Li-Cycle in the 1st quarter worth $40,000. Bleakley Financial Group LLC bought a new position in Li-Cycle in the first quarter valued at $45,000. Simplicity Wealth LLC purchased a new stake in Li-Cycle during the first quarter valued at about $45,000. Oak Harbor Wealth Partners LLC lifted its stake in Li-Cycle by 39.5% during the first quarter. Oak Harbor Wealth Partners LLC now owns 53,000 shares of the company’s stock worth $55,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Li-Cycle in the 1st quarter worth about $56,000. 54.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.