Brokerages Set Li-Cycle Holdings Corp. (NYSE:LICY) Price Target at $5.25

Li-Cycle Holdings Corp. (NYSE:LICY) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $5.25.

Separately, Chardan Capital reissued a “neutral” rating and issued a $0.75 price objective on shares of Li-Cycle in a research report on Friday, April 19th.

Insiders Place Their Bets

In other Li-Cycle news, CFO Debbie Simpson sold 81,845 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $0.41, for a total value of $33,556.45. Following the transaction, the chief financial officer now directly owns 357,447 shares in the company, valued at approximately $146,553.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 148,359 shares of company stock worth $63,438 in the last three months. Corporate insiders own 17.68% of the company’s stock.

Hedge Funds Weigh In On Li-Cycle

A number of hedge funds have recently added to or reduced their stakes in LICY. Palisades Hudson Asset Management L.P. bought a new position in Li-Cycle in the 3rd quarter worth about $39,000. Simplicity Wealth LLC bought a new position in Li-Cycle in the 1st quarter worth about $45,000. Prime Capital Investment Advisors LLC bought a new position in shares of Li-Cycle during the third quarter valued at approximately $54,000. Oak Harbor Wealth Partners LLC boosted its stake in shares of Li-Cycle by 39.5% during the first quarter. Oak Harbor Wealth Partners LLC now owns 53,000 shares of the company’s stock valued at $55,000 after purchasing an additional 15,000 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Li-Cycle during the fourth quarter valued at approximately $78,000. 54.12% of the stock is currently owned by institutional investors.

Li-Cycle Stock Down 2.3 %

Shares of NYSE LICY opened at $0.66 on Friday. The firm’s 50-day moving average price is $0.75 and its 200-day moving average price is $0.89. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $117.78 million, a price-to-earnings ratio of -0.85 and a beta of 1.37. Li-Cycle has a 12-month low of $0.35 and a 12-month high of $6.16.

Li-Cycle (NYSE:LICY) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.38 earnings per share for the quarter. Li-Cycle had a negative net margin of 754.10% and a negative return on equity of 13.33%. The company had revenue of $6.40 million for the quarter, compared to analyst estimates of $3.53 million.

Li-Cycle Company 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.