Li-Cycle (NYSE:LICY) Shares Gap Down to $4.97

Li-Cycle Holdings Corp. (NYSE:LICY – Get Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $4.97, but opened at $4.85. Li-Cycle shares last traded at $4.89, with a volume of 183,115 shares trading hands.

Wall Street Analysts Forecast Growth

LICY has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Li-Cycle from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Chardan Capital restated a “buy” rating and set a $10.00 price target on shares of Li-Cycle in a research report on Tuesday, February 28th. TD Securities decreased their price objective on Li-Cycle from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, March 31st. Morgan Stanley lowered Li-Cycle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $7.00 to $4.00 in a research report on Wednesday, January 25th. Finally, Robert W. Baird increased their price target on shares of Li-Cycle from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, March 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.56.

Li-Cycle Trading Down 2.7 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 8.42 and a current ratio of 8.51. The company’s 50-day moving average is $5.03 and its 200 day moving average is $5.40.

Institutional Investors Weigh In On Li-Cycle

Institutional investors have recently made changes to their positions in the company. Clear Street Markets LLC purchased a new stake in Li-Cycle during the 4th quarter valued at $25,000. Tower Research Capital LLC TRC lifted its holdings in shares of Li-Cycle by 135.6% during the first quarter. Tower Research Capital LLC TRC now owns 5,292 shares of the company’s stock valued at $30,000 after purchasing an additional 3,046 shares in the last quarter. Willis Johnson & Associates Inc. purchased a new stake in shares of Li-Cycle during the fourth quarter valued at $48,000. Captrust Financial Advisors increased its holdings in Li-Cycle by 38.2% in the 1st quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock worth $49,000 after buying an additional 1,590 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Li-Cycle in the 1st quarter worth about $57,000. Hedge funds and other institutional investors own 37.92% of the company’s stock.

About Li-Cycle

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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.