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 released on Friday morning, Benzinga reports. Chardan Capital currently has a $0.75 price objective on the stock.

Li-Cycle Stock Performance

Shares of NYSE:LICY opened at $0.73 on Friday. Li-Cycle has a 52 week low of $0.35 and a 52 week high of $6.16. The stock has a market capitalization of $129.94 million, a P/E ratio of -0.94 and a beta of 1.37. The firm has a fifty day simple moving average of $0.74 and a two-hundred day simple moving average of $0.91. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.77.

Li-Cycle (NYSE:LICY) last released 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 during the quarter, compared to analysts’ expectations 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

In related news, CFO Debbie Simpson sold 81,845 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 357,447 shares in the company, valued at approximately $146,553.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 148,359 shares of company stock worth $63,438. 23.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Li-Cycle by 47.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,910 shares of the company’s stock worth $348,000 after buying an additional 31,616 shares in the last quarter. Raymond James & Associates raised its position in Li-Cycle by 20.1% during the third quarter. Raymond James & Associates now owns 53,062 shares of the company’s stock worth $188,000 after acquiring an additional 8,875 shares during the period. Cable Hill Partners LLC acquired a new position in Li-Cycle during the third quarter worth $91,000. Palisades Hudson Asset Management L.P. acquired a new position in Li-Cycle during the third quarter worth $39,000. Finally, Jump Financial LLC acquired a new position in Li-Cycle during the third quarter worth $109,000. Institutional investors and hedge funds own 54.12% of the company’s stock.

Li-Cycle Company Profile

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.