According to Zacks, “Li-Cycle Holdings Corp. involved in lithium-ion battery resource recovery and lithium-ion battery recycles principally in North America. Li-Cycle Holdings Corp., formerly known as Peridot Acquisition Corp., is based in TORONTO. “
A number of other equities research analysts also recently issued reports on LICY. Morgan Stanley reduced their price objective on shares of Li-Cycle from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, June 3rd. Citigroup reduced their price objective on shares of Li-Cycle from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.22.
Li-Cycle (NYSE:LICY – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.26. The business had revenue of $3.84 million for the quarter. Li-Cycle had a negative net margin of 1,875.11% and a negative return on equity of 15.84%. As a group, analysts anticipate that Li-Cycle will post -0.27 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of LICY. Moore Capital Management LP bought a new position in shares of Li-Cycle in the third quarter worth about $58,500,000. Invesco Ltd. bought a new position in shares of Li-Cycle in the third quarter worth about $39,101,000. CIBC Private Wealth Group LLC bought a new position in shares of Li-Cycle in the fourth quarter worth about $18,918,000. Schonfeld Strategic Advisors LLC bought a new position in Li-Cycle in the 4th quarter valued at approximately $18,684,000. Finally, Soroban Capital Partners LP bought a new position in Li-Cycle in the 3rd quarter valued at approximately $17,280,000. 24.38% of the stock is owned by hedge funds and other 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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