Primecap Management Co. CA Cuts Stock Position in Li-Cycle Holdings Corp. (NYSE:LICY)

Primecap Management Co. CA decreased its stake in shares of Li-Cycle Holdings Corp. (NYSE:LICY) by 87.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,025 shares of the company’s stock after selling 2,870,175 shares during the quarter. Primecap Management Co. CA owned about 1.83% of Li-Cycle worth $2,677,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LICY. Ground Swell Capital LLC purchased a new position in shares of Li-Cycle in the 2nd quarter worth about $89,000. Summit Securities Group LLC bought a new stake in Li-Cycle during the 2nd quarter valued at about $68,000. B. Riley Wealth Advisors Inc. purchased a new position in Li-Cycle in the first quarter worth about $103,000. Bleakley Financial Group LLC bought a new stake in shares of Li-Cycle during the first quarter valued at approximately $45,000. Finally, Catalina Capital Group LLC purchased a new position in Li-Cycle in the 1st quarter worth approximately $40,000. 54.12% of the stock is owned by institutional investors.

Li-Cycle Stock Performance

LICY stock opened at $2.13 on Thursday. The stock has a market capitalization of $47.93 million, a PE ratio of -0.20 and a beta of 1.49. The stock’s 50 day simple moving average is $2.56 and its 200 day simple moving average is $4.54. Li-Cycle Holdings Corp. has a 12-month low of $1.22 and a 12-month high of $34.92. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 1.81.

Li-Cycle (NYSE:LICY) last released 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 for the quarter, compared to analysts’ expectations of $4.28 million.

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.