Li-Cycle Holdings Corp. (NYSE:LICY) Short Interest Down 40.7% in March

Li-Cycle Holdings Corp. (NYSE:LICY) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 11,910,000 shares, a drop of 40.7% from the March 15th total of 20,080,000 shares. Currently, 9.9% of the company’s stock are short sold. Based on an average daily volume of 8,310,000 shares, the short-interest ratio is presently 1.4 days.

Li-Cycle Stock Down 3.4 %

Li-Cycle stock opened at $1.12 on Thursday. Li-Cycle has a 1-year low of $0.35 and a 1-year high of $6.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.89. The stock has a market cap of $200.54 million, a PE ratio of -1.45 and a beta of 1.37. The stock’s fifty day moving average is $0.67 and its two-hundred day moving average is $1.08.

Li-Cycle (NYSE:LICY) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.38 earnings per share for the quarter. Li-Cycle had a negative return on equity of 13.33% and a negative net margin of 754.10%. The company had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $3.53 million.

Insider Activity at Li-Cycle

In other Li-Cycle news, CFO Debbie Simpson sold 81,845 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $0.41, for a total value of $33,556.45. Following the sale, the chief financial officer now directly owns 357,447 shares in the company, valued at $146,553.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 148,359 shares of company stock worth $63,438. Company insiders own 23.90% of the company’s stock.

Institutional Trading of Li-Cycle

A number of hedge funds and other institutional investors have recently made changes to their positions in LICY. Clear Street Markets LLC acquired a new stake in shares of Li-Cycle during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC increased its position in shares of Li-Cycle by 135.6% during the first quarter. Tower Research Capital LLC TRC now owns 5,292 shares of the company’s stock worth $30,000 after purchasing an additional 3,046 shares in the last quarter. Palisades Hudson Asset Management L.P. acquired a new stake in shares of Li-Cycle during the third quarter worth about $39,000. Ethic Inc. increased its position in shares of Li-Cycle by 51.5% during the fourth quarter. Ethic Inc. now owns 77,641 shares of the company’s stock worth $45,000 after purchasing an additional 26,386 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Li-Cycle by 38.2% during the first quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock worth $49,000 after purchasing an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 54.12% of the company’s stock.

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.