Li-Cycle (NYSE:LICY) Reaches New 1-Year Low at $5.77

Li-Cycle Holdings Corp. (NYSE:LICYGet Rating)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $5.77 and last traded at $5.77, with a volume of 20931 shares. The stock had previously closed at $6.07.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LICY shares. BMO Capital Markets lowered their price target on shares of Li-Cycle from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, September 15th. Cowen lowered their target price on shares of Li-Cycle from $14.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, June 15th. Piper Sandler reissued an “overweight” rating and set a $10.00 target price on shares of Li-Cycle in a report on Tuesday. Citigroup lowered their target price on shares of Li-Cycle from $10.00 to $8.00 in a report on Wednesday. Finally, Cowen lowered their target price on shares of Li-Cycle from $14.00 to $10.00 in a report on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.63.

Li-Cycle Price Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 17.25 and a quick ratio of 17.12. The firm has a market capitalization of $984.16 million, a P/E ratio of -4.05 and a beta of 0.59. The firm’s 50 day simple moving average is $7.00 and its two-hundred day simple moving average is $7.29.

Li-Cycle (NYSE:LICYGet Rating) last issued its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.08). Li-Cycle had a negative net margin of 1,097.02% and a negative return on equity of 14.59%. During the same quarter in the prior year, the company earned ($2.67) EPS. As a group, analysts predict that Li-Cycle Holdings Corp. will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On Li-Cycle

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Li-Cycle by 400.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 5,000 shares of the company’s stock valued at $42,000 after acquiring an additional 4,000 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Li-Cycle in the second quarter worth about $47,000. Captrust Financial Advisors raised its stake in Li-Cycle by 38.2% in the first quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock worth $49,000 after buying an additional 1,590 shares in the last quarter. Private Advisor Group LLC bought a new position in Li-Cycle in the second quarter worth about $82,000. Finally, Principal Financial Group Inc. bought a new position in Li-Cycle in the second quarter worth about $83,000. 35.72% of the stock is owned by institutional investors.

About Li-Cycle

(Get Rating)

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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