Li-Cycle Holdings Corp. (NYSE:LICY) Sees Large Decline in Short Interest

Li-Cycle Holdings Corp. (NYSE:LICY) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,250,000 shares, a drop of 7.4% from the September 30th total of 1,350,000 shares. Approximately 7.9% of the company’s shares are short sold. Based on an average trading volume of 526,100 shares, the short-interest ratio is presently 2.4 days.

Institutional Trading of Li-Cycle

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Li-Cycle by 55,310.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 79,237 shares of the company’s stock valued at $82,000 after purchasing an additional 79,094 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Li-Cycle in the 1st quarter valued at approximately $56,000. Catalina Capital Group LLC purchased a new position in shares of Li-Cycle during the 1st quarter valued at approximately $40,000. Bleakley Financial Group LLC acquired a new stake in shares of Li-Cycle during the first quarter worth approximately $45,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Li-Cycle in the first quarter worth $103,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.

Li-Cycle Stock Up 21.0 %

Shares of NYSE:LICY traded up $0.43 during midday trading on Thursday, hitting $2.48. 2,476,472 shares of the company’s stock traded hands, compared to its average volume of 684,980. The firm’s fifty day moving average price is $1.94 and its two-hundred day moving average price is $3.52. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.68 and a current ratio of 0.75. Li-Cycle has a twelve month low of $1.22 and a twelve month high of $18.88. The company has a market cap of $55.80 million, a PE ratio of -0.27 and a beta of 1.54.

Li-Cycle (NYSE:LICY) last issued its earnings results on Thursday, August 8th. The company reported ($0.36) earnings per share for the quarter. The company had revenue of $8.40 million during the quarter, compared to analysts’ expectations of $4.28 million. Li-Cycle had a negative return on equity of 42.36% and a negative net margin of 878.90%.

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.