Li-Cycle Stock to Reverse Split on Tuesday, June 4th (NYSE:LICY)

Shares of Li-Cycle Holdings Corp. (NYSE:LICYFree Report) are set to reverse split before the market opens on Tuesday, June 4th. The 1-8 reverse split was announced on Friday, May 24th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 3rd.

Li-Cycle Stock Down 3.5 %

Shares of NYSE LICY opened at $0.51 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.16 and a debt-to-equity ratio of 1.85. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.65. Li-Cycle has a 52-week low of $0.35 and a 52-week high of $6.16. The firm has a market cap of $92.17 million, a price-to-earnings ratio of -0.39 and a beta of 1.52.

Li-Cycle (NYSE:LICYGet Free Report) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.76) earnings per share for the quarter. Li-Cycle had a negative net margin of 1,244.97% and a negative return on equity of 44.25%. The firm had revenue of $4.20 million during the quarter, compared to analyst estimates of $4.51 million.

Wall Street Analyst Weigh In

Separately, Chardan Capital reissued a “neutral” rating and set a $0.75 price target on shares of Li-Cycle in a research report on Friday, April 19th.

Check Out Our Latest Stock Report on LICY

Insiders Place Their Bets

In related news, Director Mark Wellings sold 51,266 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $0.54, for a total transaction of $27,683.64. Following the completion of the transaction, the director now directly owns 410,244 shares of the company’s stock, valued at approximately $221,531.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 82,145 shares of company stock worth $46,232 over the last 90 days. Corporate insiders own 17.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC purchased a new stake in Li-Cycle during the 3rd quarter worth about $54,000. Jump Financial LLC acquired a new stake in shares of Li-Cycle during the 3rd quarter worth about $109,000. Fox Run Management L.L.C. purchased a new stake in Li-Cycle during the third quarter worth approximately $109,000. Catalina Capital Group LLC acquired a new position in Li-Cycle in the first quarter valued at approximately $40,000. Finally, Simplicity Wealth LLC acquired a new stake in Li-Cycle during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.

About Li-Cycle

(Get Free Report)

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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