Richelieu Gestion SA Raises Stock Holdings in Li-Cycle Holdings Corp. (NYSE:LICY)

Richelieu Gestion SA boosted its stake in Li-Cycle Holdings Corp. (NYSE:LICY) by 33.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 567,785 shares of the company’s stock after acquiring an additional 143,647 shares during the period. Li-Cycle accounts for approximately 2.6% of Richelieu Gestion SA’s holdings, making the stock its 11th biggest holding. Richelieu Gestion SA owned 0.32% of Li-Cycle worth $3,151,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LICY. State Street Corp purchased a new position in shares of Li-Cycle in the 2nd quarter worth about $12,762,000. First Trust Advisors LP purchased a new position in shares of Li-Cycle in the 1st quarter worth about $9,978,000. Northern Trust Corp purchased a new position in shares of Li-Cycle in the 2nd quarter worth about $6,039,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Li-Cycle by 11.3% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 6,814,647 shares of the company’s stock worth $38,366,000 after purchasing an additional 691,300 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in shares of Li-Cycle in the 1st quarter worth about $2,197,000. Institutional investors own 59.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LICY. Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Li-Cycle in a research report on Tuesday, August 15th. Piper Sandler decreased their target price on Li-Cycle from $10.00 to $7.00 in a research report on Monday, June 26th. Finally, Chardan Capital decreased their target price on Li-Cycle from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Li-Cycle currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Li-Cycle Stock Performance

Shares of NYSE LICY traded up $0.08 during midday trading on Monday, hitting $4.43. 612,890 shares of the company’s stock traded hands, compared to its average volume of 1,399,315. Li-Cycle Holdings Corp. has a 1 year low of $4.09 and a 1 year high of $6.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.80 and a quick ratio of 4.77. The firm has a fifty day moving average of $5.16 and a 200 day moving average of $5.18.

Li-Cycle (NYSE:LICY) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $8.03 million. Research analysts forecast that Li-Cycle Holdings Corp. will post -0.92 earnings per share for the current fiscal year.

Li-Cycle Profile

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.