Li-Cycle (NYSE:LICY) Shares Down 2.7% – Here’s What Happened

Shares of Li-Cycle Holdings Corp. (NYSE:LICY) fell 2.7% during trading on Wednesday . The stock traded as low as $1.72 and last traded at $1.79. 1,143,089 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 886,367 shares. The stock had previously closed at $1.84.

Wall Street Analyst Weigh In

Separately, UBS Group raised their price objective on shares of Li-Cycle from $2.00 to $2.25 and gave the stock a “neutral” rating in a research report on Monday, November 18th.

Li-Cycle Stock Up 32.4 %

The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $2.11 and a two-hundred day simple moving average of $2.70. The company has a market capitalization of $55.03 million, a PE ratio of -1.90 and a beta of 1.41.

Institutional Trading of Li-Cycle

Several hedge funds have recently made changes to their positions in LICY. Green Alpha Advisors LLC boosted its stake in shares of Li-Cycle by 140.1% in the third quarter. Green Alpha Advisors LLC now owns 65,874 shares of the company’s stock valued at $144,000 after buying an additional 38,435 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Li-Cycle in the second quarter valued at $128,000. Townsquare Capital LLC purchased a new stake in shares of Li-Cycle during the 3rd quarter worth $37,000. Sei Investments Co. acquired a new position in shares of Li-Cycle during the 2nd quarter worth $94,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Li-Cycle in the second quarter valued at about $89,000. Institutional investors and hedge funds 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.