Li-Cycle Holdings Corp. (NYSE:LICY) Short Interest Update

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

Insider Buying and Selling

In related news, Director Mark Wellings sold 6,408 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $4.32, for a total transaction of $27,682.56. Following the completion of the transaction, the director now owns 51,280 shares in the company, valued at $221,529.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 10,267 shares of company stock worth $46,226. 17.68% of the stock is owned by corporate insiders.

Institutional Trading of Li-Cycle

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Li-Cycle during the 4th quarter worth $78,000. Primecap Management Co. CA lifted its holdings in shares of Li-Cycle by 2.8% in the fourth quarter. Primecap Management Co. CA now owns 3,280,200 shares of the company’s stock worth $1,918,000 after acquiring an additional 90,800 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Li-Cycle in the 2nd quarter valued at approximately $68,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Li-Cycle during the 1st quarter valued at approximately $103,000. Finally, Allspring Global Investments Holdings LLC increased its position in Li-Cycle by 55,310.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 79,237 shares of the company’s stock worth $82,000 after purchasing an additional 79,094 shares in the last quarter. Institutional investors own 54.12% of the company’s stock.

Li-Cycle Stock Performance

Shares of Li-Cycle stock traded up $0.06 during trading on Friday, reaching $3.69. The company’s stock had a trading volume of 108,596 shares, compared to its average volume of 468,763. Li-Cycle has a 52 week low of $2.77 and a 52 week high of $49.25. The firm has a market cap of $82.62 million, a PE ratio of -0.35 and a beta of 1.56. The business’s 50-day moving average price is $4.38 and its 200-day moving average price is $4.90. The company has a quick ratio of 1.11, a current ratio of 1.16 and a debt-to-equity ratio of 1.85.

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

Wall Street Analyst Weigh In

Separately, Chardan Capital reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Li-Cycle in a report 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.