Li-Cycle Holdings Corp. (NYSE:LICY) Short Interest Down 7.4% in October

Li-Cycle Holdings Corp. (NYSE:LICY) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,250,000 shares, a decrease of 7.4% from the September 30th total of 1,350,000 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily trading volume, of 526,100 shares, the days-to-cover ratio is presently 2.4 days.

Li-Cycle Stock Down 10.4 %

LICY stock traded down $0.26 during midday trading on Friday, reaching $2.23. 292,796 shares of the company were exchanged, compared to its average volume of 683,215. The company has a market cap of $50.18 million, a price-to-earnings ratio of -0.24 and a beta of 1.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.68 and a current ratio of 0.75. Li-Cycle has a 1-year low of $1.22 and a 1-year high of $18.88. The stock’s 50-day simple moving average is $1.95 and its 200 day simple moving average is $3.51.

Li-Cycle (NYSE:LICY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.36) earnings per share (EPS) for the quarter. Li-Cycle had a negative return on equity of 42.36% and a negative net margin of 878.90%. The firm had revenue of $8.40 million for the quarter, compared to analysts’ expectations of $4.28 million.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Catalina Capital Group LLC acquired a new position in shares of Li-Cycle in the first quarter valued at approximately $40,000. Bleakley Financial Group LLC acquired a new position in Li-Cycle in the 1st quarter valued at $45,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Li-Cycle during the 1st quarter worth $56,000. Summit Securities Group LLC acquired a new stake in shares of Li-Cycle in the 2nd quarter worth $68,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Li-Cycle by 55,310.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 79,237 shares of the company’s stock valued at $82,000 after acquiring an additional 79,094 shares in the last quarter. 54.12% of the stock is currently owned by institutional investors and hedge funds.

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.