Li-Cycle (NYSE:LICY) PT Lowered to $8.00

Li-Cycle (NYSE:LICYGet Rating) had its target price decreased by equities research analysts at Citigroup from $10.00 to $8.00 in a report issued on Wednesday, The Fly reports. Citigroup’s target price indicates a potential upside of 31.80% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Cowen lowered their price objective on shares of Li-Cycle from $14.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 15th. Morgan Stanley reduced their target price on shares of Li-Cycle from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, June 3rd. Robert W. Baird reduced their target price on shares of Li-Cycle from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 15th. Cowen reduced their target price on shares of Li-Cycle from $14.00 to $10.00 in a research note on Wednesday, June 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $10.00 target price on shares of Li-Cycle in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.63.

Li-Cycle Stock Performance

Li-Cycle stock opened at $6.07 on Wednesday. The firm has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $7.29. Li-Cycle has a 1-year low of $5.87 and a 1-year high of $14.28. 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 stock has a market cap of $1.06 billion, a price-to-earnings ratio of -4.27 and a beta of 0.59.

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 return on equity of 14.59% and a negative net margin of 1,097.02%. During the same quarter last year, the business earned ($2.67) earnings per share. On average, analysts expect that Li-Cycle will post -0.39 EPS for the current year.

Institutional Trading of Li-Cycle

Several hedge funds and other institutional investors have recently made changes to their positions in LICY. Raymond James & Associates lifted its stake in shares of Li-Cycle by 144.3% in the fourth quarter. Raymond James & Associates now owns 58,415 shares of the company’s stock valued at $582,000 after purchasing an additional 34,500 shares during the period. HighTower Advisors LLC acquired a new position in Li-Cycle during the fourth quarter worth about $184,000. Bank of Montreal Can raised its position in Li-Cycle by 12.6% during the fourth quarter. Bank of Montreal Can now owns 111,047 shares of the company’s stock worth $1,102,000 after acquiring an additional 12,451 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Li-Cycle during the fourth quarter worth about $1,220,000. Finally, GSA Capital Partners LLP acquired a new position in Li-Cycle during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

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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