Li-Cycle Holdings Corp. (NYSE:LICY) Short Interest Up 23.0% in February

Li-Cycle Holdings Corp. (NYSE:LICY) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,710,000 shares, an increase of 23.0% from the January 31st total of 1,390,000 shares. Currently, 5.9% of the company’s shares are short sold. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is presently 1.1 days.

Wall Street Analyst Weigh In

Separately, UBS Group boosted their price target on Li-Cycle from $2.00 to $2.25 and gave the company a “neutral” rating in a report on Monday, November 18th.

Hedge Funds Weigh In On Li-Cycle

A number of hedge funds have recently added to or reduced their stakes in LICY. Townsquare Capital LLC purchased a new stake in shares of Li-Cycle during the third quarter worth about $37,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Li-Cycle during the fourth quarter worth $25,000. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Li-Cycle by 4.8% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 841,976 shares of the company’s stock valued at $1,507,000 after buying an additional 38,900 shares during the period. Jane Street Group LLC lifted its holdings in shares of Li-Cycle by 184.0% in the 4th quarter. Jane Street Group LLC now owns 72,543 shares of the company’s stock worth $130,000 after acquiring an additional 47,004 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Li-Cycle in the 4th quarter valued at $64,000. 54.12% of the stock is currently owned by institutional investors.

Li-Cycle Stock Performance

Shares of NYSE:LICY traded down $0.04 during mid-day trading on Friday, reaching $0.84. 571,586 shares of the company traded hands, compared to its average volume of 1,876,040. The firm has a market cap of $19.57 million, a PE ratio of -0.67 and a beta of 1.38. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.60 and a quick ratio of 0.54. The company’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.75. Li-Cycle has a 52 week low of $0.77 and a 52 week high of $15.36.

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.