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 published on Friday, Benzinga reports. The firm currently has a $0.75 price target on the stock.

Li-Cycle Stock Performance

LICY opened at $0.73 on Friday. The stock has a 50-day moving average of $0.74 and a 200-day moving average of $0.91. Li-Cycle has a 52-week low of $0.35 and a 52-week high of $6.16. The company has a market cap of $129.94 million, a PE ratio of -0.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.89 and a current ratio of 0.95.

Li-Cycle (NYSE:LICY) last announced its 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 firm had revenue of $6.40 million during the quarter, compared to the consensus estimate of $3.53 million.

Insider Buying and Selling

In other Li-Cycle 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 148,359 shares of company stock valued at $63,438. 23.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Li-Cycle

A number of institutional investors have recently made changes to their positions in the company. Palisades Hudson Asset Management L.P. bought a new stake in Li-Cycle during the third quarter worth $39,000. Prime Capital Investment Advisors LLC bought a new position in shares of Li-Cycle in the 3rd quarter valued at $54,000. SG Americas Securities LLC bought a new position in shares of Li-Cycle in the 4th quarter valued at $78,000. Allspring Global Investments Holdings LLC raised its position in Li-Cycle by 55,310.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 79,237 shares of the company’s stock worth $82,000 after purchasing an additional 79,094 shares during the last quarter. Finally, Cable Hill Partners LLC bought a new position in Li-Cycle during the 3rd quarter worth $91,000. 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.