Li-Cycle Holdings Corp. (NYSE:LICY) Receives Consensus Recommendation of “Hold” from Analysts

Li-Cycle Holdings Corp. (NYSE:LICY) has received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.25.

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

Insider Activity at Li-Cycle

In related news, CFO Debbie Simpson sold 81,845 shares of Li-Cycle stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $0.41, for a total value of $33,556.45. Following the completion of the sale, the chief financial officer now directly owns 357,447 shares in the company, valued at $146,553.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 148,359 shares of company stock worth $63,438 over the last three months. 23.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Li-Cycle

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Li-Cycle by 15.0% in the second quarter. BlackRock Inc. now owns 7,631,507 shares of the company’s stock worth $42,355,000 after purchasing an additional 995,021 shares in the last quarter. Primecap Management Co. CA raised its holdings in Li-Cycle by 2.8% in the fourth quarter. Primecap Management Co. CA now owns 3,280,200 shares of the company’s stock worth $1,918,000 after purchasing an additional 90,800 shares in the last quarter. Invesco Ltd. grew its stake in shares of Li-Cycle by 7.8% during the first quarter. Invesco Ltd. now owns 2,989,030 shares of the company’s stock worth $25,258,000 after acquiring an additional 217,362 shares during the last quarter. SIR Capital Management L.P. grew its stake in shares of Li-Cycle by 8.1% during the first quarter. SIR Capital Management L.P. now owns 2,720,685 shares of the company’s stock worth $15,317,000 after acquiring an additional 203,200 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Li-Cycle by 4.9% during the second quarter. State Street Corp now owns 2,141,764 shares of the company’s stock worth $11,887,000 after acquiring an additional 100,830 shares during the last quarter. 54.12% of the stock is currently owned by institutional investors.

Li-Cycle Trading Down 4.7 %

Shares of NYSE:LICY traded down $0.03 on Friday, hitting $0.67. 3,972,246 shares of the company’s stock were exchanged, compared to its average volume of 7,679,362. Li-Cycle has a 12 month low of $0.35 and a 12 month high of $6.16. The stock has a market capitalization of $119.50 million, a price-to-earnings ratio of -0.87 and a beta of 1.37. The business’s 50 day simple moving average is $0.73 and its two-hundred day simple moving average is $0.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.95 and a quick ratio of 0.89.

Li-Cycle (NYSE:LICY) last released its earnings results on Friday, March 15th. The company reported $0.38 earnings per share for the quarter. Li-Cycle had a negative return on equity of 13.33% and a negative net margin of 754.10%. The business had revenue of $6.40 million during the quarter, compared to the consensus estimate of $3.53 million.

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.