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

Li-Cycle (NYSE:LICY)‘s stock had its “neutral” rating restated by equities researchers at Chardan Capital in a research note issued on Friday, Benzinga reports. They presently have a $0.75 target price on the stock. Chardan Capital’s price objective would suggest a potential upside of 12.39% from the stock’s previous close.

Li-Cycle Stock Performance

LICY stock opened at $0.67 on Friday. The stock has a 50-day moving average price of $0.73 and a 200-day moving average price of $0.94. Li-Cycle has a 1-year low of $0.35 and a 1-year high of $6.16. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.77. The firm has a market cap of $119.50 million, a PE ratio of -0.87 and a beta of 1.37.

Li-Cycle (NYSE:LICY) last posted its quarterly earnings data 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 firm had revenue of $6.40 million during the quarter, compared to analyst estimates of $3.53 million.

Insider Transactions at Li-Cycle

In other news, CFO Debbie Simpson sold 81,845 shares of Li-Cycle stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $0.41, for a total value of $33,556.45. Following the completion of the transaction, the chief financial officer now directly owns 357,447 shares of the company’s stock, valued at approximately $146,553.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 148,359 shares of company stock valued at $63,438. Corporate 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 added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in Li-Cycle by 38.2% in the 1st quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock valued at $49,000 after buying an additional 1,590 shares in the last quarter. ProShare Advisors LLC increased its position in Li-Cycle by 11.6% in the 2nd quarter. ProShare Advisors LLC now owns 17,950 shares of the company’s stock valued at $100,000 after buying an additional 1,863 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Li-Cycle by 135.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,292 shares of the company’s stock valued at $30,000 after buying an additional 3,046 shares in the last quarter. Royal Bank of Canada increased its position in Li-Cycle by 5.1% in the 2nd quarter. Royal Bank of Canada now owns 70,761 shares of the company’s stock valued at $393,000 after buying an additional 3,459 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Li-Cycle by 30.5% in the 1st quarter. Principal Financial Group Inc. now owns 15,429 shares of the company’s stock valued at $87,000 after buying an additional 3,605 shares in the last quarter. 54.12% of the stock is owned by institutional investors.

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.