Healthcare of Ontario Pension Plan Trust Fund Has $1.58 Million Stake in Li-Cycle Holdings Corp. (NYSE:LICY)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Li-Cycle Holdings Corp. (NYSE:LICYGet Rating) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,027 shares of the company’s stock after acquiring an additional 30,309 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Li-Cycle were worth $1,583,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Strs Ohio acquired a new stake in Li-Cycle during the 2nd quarter valued at approximately $211,000. ProShare Advisors LLC bought a new position in shares of Li-Cycle during the 2nd quarter worth approximately $103,000. Primecap Management Co. CA boosted its holdings in shares of Li-Cycle by 169.5% during the 1st quarter. Primecap Management Co. CA now owns 1,839,700 shares of the company’s stock worth $15,545,000 after buying an additional 1,157,000 shares in the last quarter. TCTC Holdings LLC boosted its holdings in shares of Li-Cycle by 96.0% during the 1st quarter. TCTC Holdings LLC now owns 484,800 shares of the company’s stock worth $4,097,000 after buying an additional 237,500 shares in the last quarter. Finally, Great Valley Advisor Group Inc. bought a new position in shares of Li-Cycle during the 2nd quarter worth approximately $229,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LICY shares. Robert W. Baird cut their price target on Li-Cycle from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 15th. Morgan Stanley cut their price target on Li-Cycle from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, September 30th. Citigroup cut their target price on Li-Cycle from $10.00 to $8.00 in a report on Wednesday, September 21st. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price on shares of Li-Cycle in a report on Tuesday, September 20th. Finally, BMO Capital Markets cut their target price on Li-Cycle from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, September 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Li-Cycle has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Li-Cycle Price Performance

NYSE LICY opened at $6.12 on Friday. The business has a fifty day simple moving average of $5.80 and a 200 day simple moving average of $6.68. Li-Cycle Holdings Corp. has a 12 month low of $5.05 and a 12 month high of $13.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 17.25 and a quick ratio of 17.12.

Li-Cycle (NYSE:LICYGet Rating) last released its quarterly earnings results on Wednesday, September 14th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The company had revenue of ($1.97) million during the quarter, compared to analysts’ expectations of $11.13 million. Li-Cycle had a negative net margin of 1,097.02% and a negative return on equity of 14.59%. During the same period in the previous year, the company posted ($2.67) earnings per share. As a group, equities research analysts expect that Li-Cycle Holdings Corp. will post -0.39 earnings per share for the current fiscal 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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