Bank of New York Mellon Corp lifted its stake in Li-Cycle Holdings Corp. (NYSE:LICY – Free Report) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,193,140 shares of the company’s stock after acquiring an additional 24,147 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Li-Cycle worth $6,622,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of Li-Cycle in the second quarter worth $597,000. Signaturefd LLC raised its position in shares of Li-Cycle by 493.3% in the second quarter. Signaturefd LLC now owns 7,695 shares of the company’s stock worth $43,000 after buying an additional 6,398 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Li-Cycle in the second quarter worth $321,000. Oak Harbor Wealth Partners LLC purchased a new stake in shares of Li-Cycle in the second quarter worth $72,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Li-Cycle in the second quarter worth $221,000. 59.71% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LICY has been the topic of a number of recent analyst reports. UBS Group downgraded Li-Cycle from a “buy” rating to a “neutral” rating in a research report on Thursday, November 16th. Wedbush reiterated an “outperform” rating and issued a $8.00 price objective on shares of Li-Cycle in a research report on Tuesday, August 15th. Chardan Capital downgraded Li-Cycle from a “buy” rating to a “neutral” rating in a research report on Thursday, November 16th. Finally, TD Cowen downgraded Li-Cycle from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Li-Cycle has a consensus rating of “Hold” and a consensus price target of $7.00.
Li-Cycle Stock Performance
NYSE LICY opened at $0.74 on Tuesday. The stock’s 50-day simple moving average is $2.54 and its two-hundred day simple moving average is $4.26. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.77 and a current ratio of 1.90. Li-Cycle Holdings Corp. has a twelve month low of $0.50 and a twelve month high of $6.58.
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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