Li-Cycle Holdings Corp. (NYSE:LICY – Get Free Report)’s share price dropped 5.2% during trading on Wednesday . The company traded as low as $6.69 and last traded at $6.81. Approximately 824,162 shares traded hands during trading, an increase of 4% from the average daily volume of 793,490 shares. The stock had previously closed at $7.18.
Analyst Ratings Changes
Separately, Chardan Capital reiterated a “neutral” rating and set a $6.00 price objective on shares of Li-Cycle in a research report on Friday, April 19th.
Read Our Latest Research Report on Li-Cycle
Li-Cycle Trading Down 5.2 %
Li-Cycle (NYSE:LICY – Get Free Report) last issued its quarterly earnings results on Friday, May 10th. The company reported ($6.08) earnings per share (EPS) for the quarter. Li-Cycle had a negative return on equity of 44.25% and a negative net margin of 1,244.97%. The business had revenue of $4.20 million during the quarter, compared to analyst estimates of $4.51 million.
Insiders Place Their Bets
In other news, Director Mark Wellings sold 6,408 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $4.32, for a total transaction of $27,682.56. Following the completion of the sale, the director now owns 51,280 shares in the company, valued at approximately $221,529.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 10,267 shares of company stock valued at $46,226. Insiders own 17.68% of the company’s stock.
Institutional Trading of Li-Cycle
A number of institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in Li-Cycle in the 1st quarter worth approximately $103,000. Bleakley Financial Group LLC bought a new position in Li-Cycle during the 1st quarter worth $45,000. Catalina Capital Group LLC acquired a new stake in Li-Cycle in the first quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Li-Cycle in the 1st quarter valued at about $56,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Li-Cycle by 55,310.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 79,237 shares of the company’s stock valued at $82,000 after buying an additional 79,094 shares during the last quarter. Hedge funds and other institutional investors own 54.12% of the company’s stock.
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.
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