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

Li-Cycle (NYSE:LICY)‘s stock had its “neutral” rating reiterated by equities researchers at Chardan Capital in a report issued on Friday, Benzinga reports. They currently have a $0.75 price target on the stock. Chardan Capital’s target price indicates a potential upside of 18.15% from the stock’s current price.

Li-Cycle Stock Down 9.3 %

NYSE LICY traded down $0.07 during trading on Friday, hitting $0.63. The stock had a trading volume of 2,465,626 shares, compared to its average volume of 7,660,317. Li-Cycle has a 12 month low of $0.35 and a 12 month high of $6.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.89 and a current ratio of 0.95. The company’s 50-day moving average price is $0.73 and its two-hundred day moving average price is $0.98. The company has a market capitalization of $113.68 million, a PE ratio of -0.83 and a beta of 1.37.

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 firm had revenue of $6.40 million during the quarter, compared to the consensus estimate 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 shares were sold at an average price of $0.41, for a total value of $33,556.45. Following the transaction, the chief financial officer now directly owns 357,447 shares of the company’s stock, valued at $146,553.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 148,359 shares of company stock valued at $63,438 in the last 90 days. 23.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in Li-Cycle by 15.0% in the 2nd quarter. BlackRock Inc. now owns 7,631,507 shares of the company’s stock valued at $42,355,000 after buying an additional 995,021 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Li-Cycle by 2.8% in the fourth quarter. Primecap Management Co. CA now owns 3,280,200 shares of the company’s stock valued at $1,918,000 after purchasing an additional 90,800 shares during the last quarter. Invesco Ltd. lifted its position in shares of Li-Cycle by 7.8% during the first quarter. Invesco Ltd. now owns 2,989,030 shares of the company’s stock valued at $25,258,000 after purchasing an additional 217,362 shares in the last quarter. SIR Capital Management L.P. boosted its holdings in Li-Cycle by 8.1% during the first quarter. SIR Capital Management L.P. now owns 2,720,685 shares of the company’s stock worth $15,317,000 after purchasing an additional 203,200 shares during the last quarter. Finally, State Street Corp boosted its holdings in Li-Cycle by 4.9% during the second quarter. State Street Corp now owns 2,141,764 shares of the company’s stock worth $11,887,000 after purchasing an additional 100,830 shares during the last quarter. Institutional investors 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.