Li-Cycle (NYSE:LICY) Rating Reiterated by Chardan Capital

Li-Cycle (NYSE:LICY)‘s stock had its “neutral” rating restated by equities research analysts at Chardan Capital in a research note issued to investors on Friday, Benzinga reports. They presently have a $0.75 target price on the stock. Chardan Capital’s target price points to a potential upside of 18.15% from the stock’s previous close.

Li-Cycle Stock Down 9.3 %

Shares of LICY traded down $0.07 during mid-day trading on Friday, reaching $0.63. The company’s stock had a trading volume of 2,465,626 shares, compared to its average volume of 7,660,317. Li-Cycle has a 1 year low of $0.35 and a 1 year high of $6.16. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a market cap of $113.68 million, a price-to-earnings ratio of -0.83 and a beta of 1.37. The business has a fifty day moving average of $0.73 and a 200 day moving average of $0.98.

Li-Cycle (NYSE:LICY) last released its earnings results on Friday, March 15th. The company reported $0.38 earnings per share for the quarter. The company had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $3.53 million. Li-Cycle had a negative return on equity of 13.33% and a negative net margin of 754.10%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Li-Cycle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clear Street Markets LLC bought a new position in Li-Cycle during the fourth quarter valued at about $25,000. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 3,046 shares in the last quarter. Palisades Hudson Asset Management L.P. bought a new position in shares of Li-Cycle in the 3rd quarter valued at approximately $39,000. Ethic Inc. lifted its holdings in Li-Cycle by 51.5% in the 4th quarter. Ethic Inc. now owns 77,641 shares of the company’s stock worth $45,000 after purchasing an additional 26,386 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Li-Cycle by 38.2% during the first quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock worth $49,000 after purchasing an additional 1,590 shares during the period. 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.