Li-Cycle Holdings Corp. (NYSE:LICY) Receives $5.25 Average PT from Brokerages

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

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

Li-Cycle Trading Down 4.7 %

NYSE:LICY opened at $0.67 on Friday. The company has a market cap of $119.50 million, a P/E ratio of -0.87 and a beta of 1.37. Li-Cycle has a twelve month low of $0.35 and a twelve month high of $6.16. The business has a 50 day moving average price of $0.73 and a two-hundred day moving average price of $0.93. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.77.

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

Insiders Place Their Bets

In related news, CFO Debbie Simpson sold 81,845 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $0.41, for a total value of $33,556.45. Following the sale, the chief financial officer now owns 357,447 shares in the company, valued at approximately $146,553.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 148,359 shares of company stock valued at $63,438 over the last 90 days. 23.90% of the stock is currently owned by insiders.

Institutional Trading of Li-Cycle

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Li-Cycle during the fourth quarter worth approximately $1,170,000. State Street Corp acquired a new stake in Li-Cycle during the 2nd quarter worth approximately $12,762,000. First Trust Advisors LP acquired a new stake in Li-Cycle during the 1st quarter worth approximately $9,978,000. BlackRock Inc. boosted its stake in Li-Cycle by 15.0% in the 2nd quarter. BlackRock Inc. now owns 7,631,507 shares of the company’s stock valued at $42,355,000 after purchasing an additional 995,021 shares during the period. Finally, Northern Trust Corp acquired a new position in Li-Cycle in the 2nd quarter valued at $6,039,000. Institutional investors own 54.12% of the company’s stock.

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.