Streetbeat News

LICY

Li-Cycle Holdings Corp.

https://www.li-cycle.com

Industry

Waste Management

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. It also provides lithium carbonate, cobalt sulphate, nickel sulphate, and manganese carbonate. The company is headquartered in Toronto, Ontario.

Open

4.97

Mkt cap

90M

Volume

8.1M

High

4.97

P/E Ratio

-0.42

52-wk high

15.36

Low

3.87

Div yield

N/A

52-wk low

1.22

Li-Cycle Holdings (LICY) reported Q1 2024 GAAP EPS of $(0.76), missing the $(0.13) estimate, with sales of $4.2M also missing the $5.808M estimate, a 16.67% increase over last year's same period.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:16 am

Chardan Capital analyst Brian Dobson maintains a Neutral rating on Li-Cycle Holdings (LICY) and sets a price target of $0.75.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 5:32 pm

In Friday's intraday session, several industrials stocks showed significant movement. Argan (AGX) led the gainers with a 24.4% increase following their Q4 earnings release, while Tritium DCFC (DCFC) experienced the largest drop among the losers, declining by 16.5%. Other notable movers included TOMI Environmental Solutions (TOMZ), Graphjet Tech (GTI), and Li-Cycle Holdings (LICY), reflecting a mix of market reactions to various company-specific developments.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 4:30 pm

In Monday's pre-market session, several industrials stocks showed significant movement. Gainers included Antelope Ent Hldgs (AEHL) with a 33.3% rise, and losers featured Caravelle Intl Gr (CACO) with a 17.4% decline. Other notable movements were seen in stocks like Ducommun (DCO), EHang Holdings (EH), and Li-Cycle Holdings (LICY), among others, with various factors such as Q4 earnings influencing the market.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 12:09 pm

Li-Cycle Holdings (NYSE:LICY) has seen a 34.88% increase in short interest, with 20.08 million shares sold short, representing 16.9% of its float. This indicates a bearish market sentiment, although it's higher than its peers' average of 2.70% short interest. The coverage time for short positions is approximately 1.23 days.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 3:15 pm

In Friday's intraday session, several industrials stocks experienced significant movements. Vast Renewables, NeoVolta, SolarMax Technology, Nikola, Nuvve Holding, and Li-Cycle Holdings were among the gainers, with increases ranging from 13.35% to 33.1%. On the downside, Primech Holdings, Urban-gro, MillerKnoll, Ryde Group, Shimmick, and ShiftPixy saw declines between 9.28% and 67.3%. Notably, earnings reports influenced some of these movements.

Portfolio Pulse from Benzinga Insights

March 29, 2024 | 4:30 pm

In Thursday's intraday session, several industrials stocks experienced significant movements. Vast Renewables, Nauticus Robotics, SolarMax Technology, Li-Cycle Holdings, Taylor Devices, and Pineapple Energy were among the gainers, with notable increases in their stock prices. Conversely, Primech Holdings, Urban-gro, AERWINS Technologies, MillerKnoll, Shimmick, and C3is saw declines in their stock values. Earnings releases played a role in the price movements for some companies.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 4:31 pm

Li-Cycle Holdings Corp (NYSE:LICY), a lithium-ion battery resource company, announced a workforce reduction of approximately 60 positions, or 17% of its global workforce, as part of its cash preservation plan. The company expects to incur $8.3 million in charges related to the workforce reductions, primarily in cash severance payments over the next twelve months. These measures are anticipated to save about $10 million annually in payroll and benefits. Li-Cycle is transitioning to a centralized management structure to increase efficiencies and has made several executive changes, including appointing Craig Cunningham as interim CFO. LICY shares dropped 4.67% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 27, 2024 | 10:45 am

Li-Cycle is restructuring its management, transitioning to a centralized model from a regional structure, aiming for future success and efficiency. Tim Johnston moves to interim non-executive Board Chair, and Conor Spollen is now COO. The company plans to cut about 60 jobs (17% of its workforce) to save $10 million annually. CFO Debbie Simpson is leaving, with Craig Cunningham stepping in as interim CFO.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:23 pm

Li-Cycle has successfully closed a $75 million investment from Glencore, marking a significant financial infusion into the battery recycling company. This investment could enhance Li-Cycle's operational capabilities and expand its market presence.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:15 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.