Li-Cycle (NYSE:LICY) Receives Neutral Rating from Chardan Capital

Chardan Capital restated their neutral rating on shares of Li-Cycle (NYSE:LICY) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $0.75 target price on the stock.

Li-Cycle Price Performance

Shares of NYSE:LICY opened at $0.67 on Friday. The company’s fifty day moving average price is $0.73 and its 200-day moving average price is $0.96. The firm has a market capitalization of $119.50 million, a price-to-earnings ratio of -0.87 and a beta of 1.37. Li-Cycle has a one year low of $0.35 and a one 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.

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

Insider Activity at Li-Cycle

In related news, CFO Debbie Simpson sold 81,845 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $0.41, for a total transaction of $33,556.45. Following the transaction, the chief financial officer now owns 357,447 shares of the company’s stock, valued at approximately $146,553.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 148,359 shares of company stock valued at $63,438. Insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On Li-Cycle

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC boosted its position in Li-Cycle by 215.7% during the 3rd quarter. Hsbc Holdings PLC now owns 47,525 shares of the company’s stock valued at $168,000 after buying an additional 32,471 shares during the period. Fox Run Management L.L.C. purchased a new stake in Li-Cycle during the 3rd quarter valued at $109,000. Jump Financial LLC purchased a new stake in Li-Cycle during the 3rd quarter valued at $109,000. B. Riley Wealth Advisors Inc. boosted its position in Li-Cycle by 149.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 99,700 shares of the company’s stock valued at $354,000 after buying an additional 59,800 shares during the period. Finally, Primecap Management Co. CA boosted its position in Li-Cycle by 18.4% during the 3rd quarter. Primecap Management Co. CA now owns 3,189,400 shares of the company’s stock valued at $11,322,000 after buying an additional 496,300 shares during the period. Institutional investors 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.