Li-Cycle Holdings Corp. (NYSE:LICY) Given Average Rating of “Hold” by Analysts

Li-Cycle Holdings Corp. (NYSE:LICY) has earned an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.25.

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

Insider Activity

In other news, CFO Debbie Simpson sold 81,845 shares of the business’s 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 owns 357,447 shares of the company’s stock, valued at approximately $146,553.27. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 148,359 shares of company stock valued at $63,438. Insiders own 17.68% of the company’s stock.

Institutional Investors Weigh In On Li-Cycle

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its position in Li-Cycle by 215.7% during the 3rd quarter. Hsbc Holdings PLC now owns 47,525 shares of the company’s stock valued at $168,000 after purchasing an additional 32,471 shares during the last quarter. SG Americas Securities LLC bought a new position in Li-Cycle during the 4th quarter valued at approximately $78,000. Fox Run Management L.L.C. purchased a new position in Li-Cycle during the 3rd quarter valued at $109,000. Jump Financial LLC bought a new position in Li-Cycle in the 3rd quarter worth $109,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Li-Cycle by 149.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 99,700 shares of the company’s stock worth $354,000 after purchasing an additional 59,800 shares in the last quarter. Institutional investors own 54.12% of the company’s stock.

Li-Cycle Stock Down 2.3 %

Shares of LICY opened at $0.66 on Friday. The firm has a market cap of $117.78 million, a P/E ratio of -0.85 and a beta of 1.37. The stock has a 50 day simple moving average of $0.75 and a two-hundred day simple moving average of $0.89. 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 has a 1 year low of $0.35 and a 1 year high of $6.16.

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

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.