Li-Cycle Holdings Corp. (NYSE:LICY) Holdings Raised by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of Li-Cycle Holdings Corp. (NYSE:LICYGet Rating) by 24.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,203 shares of the company’s stock after purchasing an additional 18,911 shares during the quarter. DnB Asset Management AS’s holdings in Li-Cycle were worth $656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC raised its position in Li-Cycle by 400.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 5,000 shares of the company’s stock worth $42,000 after acquiring an additional 4,000 shares in the last quarter. Captrust Financial Advisors grew its stake in Li-Cycle by 38.2% during the 1st quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock valued at $49,000 after acquiring an additional 1,590 shares in the last quarter. Canton Hathaway LLC purchased a new position in Li-Cycle during the 1st quarter valued at about $85,000. Integrated Wealth Concepts LLC bought a new stake in shares of Li-Cycle in the 1st quarter valued at approximately $85,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Li-Cycle in the 1st quarter valued at approximately $86,000. 35.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LICY. Citigroup reduced their target price on Li-Cycle from $10.00 to $8.00 in a report on Wednesday. BMO Capital Markets lowered their price target on Li-Cycle from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, September 15th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target on shares of Li-Cycle in a research report on Tuesday. Chardan Capital decreased their target price on Li-Cycle from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, September 15th. Finally, Cowen decreased their target price on 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 six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.22.

Li-Cycle Stock Performance

NYSE:LICY opened at $6.43 on Thursday. The stock has a market cap of $1.13 billion, a P/E ratio of -4.53 and a beta of 0.59. The stock has a 50 day simple moving average of $7.00 and a 200 day simple moving average of $7.30. The company has a current ratio of 17.25, a quick ratio of 17.12 and a debt-to-equity ratio of 0.54. Li-Cycle Holdings Corp. has a 1-year low of $5.87 and a 1-year high of $14.28.

Li-Cycle (NYSE:LICYGet Rating) last announced its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) earnings per share 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 period last year, the firm earned ($2.67) earnings per share. Research analysts anticipate that Li-Cycle Holdings Corp. will post -0.39 earnings per share for the current year.

Li-Cycle Company Profile

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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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Institutional Ownership by Quarter for Li-Cycle (NYSE:LICY)

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