Short Interest in Li-Cycle Holdings Corp. (NYSE:LICY) Decreases By 7.4%

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

Institutional Investors Weigh In On Li-Cycle

Several hedge funds have recently modified their holdings of the stock. Catalina Capital Group LLC acquired a new position in shares of Li-Cycle in the 1st quarter valued at $40,000. Bleakley Financial Group LLC acquired a new position in Li-Cycle in the first quarter valued at $45,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Li-Cycle during the first quarter valued at about $56,000. Summit Securities Group LLC acquired a new stake in Li-Cycle during the second quarter worth about $68,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Li-Cycle by 55,310.5% in 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 period. 54.12% of the stock is owned by institutional investors and hedge funds.

Li-Cycle Trading Up 21.0 %

Shares of LICY traded up $0.43 on Thursday, hitting $2.48. 2,476,472 shares of the stock traded hands, compared to its average volume of 684,980. The firm has a market capitalization of $55.80 million, a P/E ratio of -0.27 and a beta of 1.54. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 1.81. Li-Cycle has a 1 year low of $1.22 and a 1 year high of $18.88. The stock’s 50 day moving average is $1.94 and its two-hundred day moving average is $3.52.

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

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.