Lazard Asset Management LLC bought a new position in Li-Cycle Holdings Corp. (NYSE:LICY – Get Rating) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 16,149 shares of the company’s stock, valued at approximately $111,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of LICY. Steward Partners Investment Advisory LLC boosted its holdings in shares of Li-Cycle by 400.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 5,000 shares of the company’s stock worth $42,000 after purchasing an additional 4,000 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Li-Cycle during the 1st quarter worth approximately $86,000. Commonwealth Equity Services LLC lifted its stake in shares of Li-Cycle by 32.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 94,790 shares of the company’s stock worth $800,000 after acquiring an additional 23,429 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Li-Cycle by 45.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 61,619 shares of the company’s stock worth $525,000 after acquiring an additional 19,214 shares during the last quarter. Finally, Wellington Shields & Co. LLC lifted its stake in shares of Li-Cycle by 67.4% during the 1st quarter. Wellington Shields & Co. LLC now owns 44,873 shares of the company’s stock worth $379,000 after acquiring an additional 18,071 shares during the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on LICY. Morgan Stanley decreased their price target on Li-Cycle from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, September 30th. Chardan Capital decreased their price target on Li-Cycle from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, September 15th. Piper Sandler reissued an “overweight” rating and set a $10.00 price target on shares of Li-Cycle in a research note on Tuesday, September 20th. Robert W. Baird decreased their price target on Li-Cycle from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 15th. Finally, BMO Capital Markets decreased their target price on Li-Cycle from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, September 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Li-Cycle has an average rating of “Moderate Buy” and a consensus target price of $9.50.
Li-Cycle Trading Up 4.2 %
Li-Cycle (NYSE:LICY – Get Rating) last issued its earnings results on Wednesday, September 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Li-Cycle had a negative net margin of 1,097.02% and a negative return on equity of 14.59%. The firm had revenue of ($1.97) million for the quarter, compared to the consensus estimate of $11.13 million. During the same period last year, the firm earned ($2.67) earnings per share. Analysts expect that Li-Cycle Holdings Corp. will post -0.39 earnings per share for the current fiscal year.
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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