Piper Sandler lifts Li-Cycle Holdings Corp. [LICY] price estimate. Who else is bullish?
Li-Cycle Holdings Corp. [NYSE: LICY] It fell by -$0.36 during the normal trading session on Thursday and reached a high of $6.44 on the day while closing the day at $6.07. Company report on September 19, 2022 US Senate Majority Leader Charles E. Schumer is visiting the Li-Cycle Rochester Hub.
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Senator Schumer commends Li-Cycle for its contributions to building a sustainable domestic battery materials supply chain in the United States.
Li-Cycle’s Rochester Hub is expected to be an important new source of battery materials in North America, including battery-grade lithium carbonate.
Li-Cycle Holdings Corp stock has also lost -3.50% of its value over the past seven days. However, LICY stock is down -19.07% in the three months of the year. Over the past six months, it has lost -27.74% and lost -39.06% year over year.
LICY’s stock has a market capitalization of $1.11 billion, with 174.38 million shares outstanding and 136.53 million shares in current float. Compared to an average trading volume of 1.72 million shares, LICY had a trading volume of 3954503 on the last trading day, which is why market watchers consider the stock to be active.
Here’s what leading stock market gurus are saying about Li-Cycle Holdings Corp. [LICY]:
Based on careful, fact-backed analysis by Wall Street experts, the current consensus on a target price for LICY’s stock is $10.12 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for LICY stock is a set recommendation at 2.00. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
Piper Sandler has made an estimate for Li-Cycle Holdings Corp stock, while retaining their opinion of the stock as Overweight, with their previous recommendation back on September 20, 2022. The new note on price target was issued on February 10, 2022, representing the official target price for Li- stock. Cycle Holdings Corp. Previously, the target price had taken another increase to $17, while Chardan Capital Markets analysts maintained a buy rating on LICY stock.
The Average True Range (ATR) for Li-Cycle Holdings Corp is set at 0.43, with a price-to-sales ratio for LICY stock in the past twelve months at 74.55. The price-to-book ratio for the last quarter was 2.02, with the price-to-cash-to-cash ratio for the same quarter set at 3.55.
LICY Stock Trading Performance Evaluation
Li-Cycle Holdings Corp. [LICY] It fell into the red at the end of last week, fell in a negative direction and fell by -3.50. With this latest performance, LICY shares are down -15.22% over the past four-week period, as well as down -27.74% over the past six months — not to mention a -40.49% drop in the past year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for LICY stock for the past two weeks is set at 38.00, with the RSI for the last one trading at 34.78, and the three-week RSI at 40.70 for Li-Cycle Holdings Corp. [LICY]. The current moving average of the last 50 trading days for this stock is 6.99, while it recorded at 6.18 for the last trading week, and 7.68 for the last 200 days.
Li-Cycle Holdings Corp. [LICY]: Insight into the basic fundamentals
Operating margin for any stock indicates how profitable the investment is, Li-Cycle Holdings Corp. [LICY] The current operating margin for the shares is -431.97 and the gross profit margin is at -221.70. Li-Cycle Holdings Corp’s net profit margin is currently -3072.04.
The return on equity for this stock fell to -62.56, with the return on assets remaining at -46.88.
Li-Cycle Holdings Corp’s liquidity data is also interesting, with the quick ratio at 17.10 and the current ratio set at 17.30.
Li-Cycle Holdings Corp. [LICY]: Insiders ownership positions
There are currently approximately $378 million, or 39.10% of LICY’s stock, in the hands of institutional investors. The three largest institutional owners of LICY shares are: COVALIS CAPITAL LLP with ownership of 10,151,853, which represents approximately 272.398% of the company’s market capitalization and approximately 22.25% of the total institutional ownership; BLACKROCK INC. , which owns 6,206,889 shares of stock with an approximate value of $37.68 million in LICY stock; and BNP PARIBAS ASSET MANAGEMENT HOLDING SA, currently with $36.8 million of LICY stock with ownership of approximately 16.5% of the company’s market value.
Positions in Li-Cycle Holdings Corp shares held by institutional investors increased at the end of September and at the time of the September report, as 102 institutional owners consolidated their position in Li-Cycle Holdings Corp. [NYSE:LICY] About 281,31332 shares. In addition, 56 investors decreased their positions by 4,351,355 shares, while 27 investors held positions with 29,839,646 shares. The said changes put institutional holdings at 6,2322,333 shares, according to the latest report by the Securities and Exchange Commission. LICY’s stock included 53 new institutional investments with a total of 14,464,306 shares, while 22 institutional investors sold positions worth 1,572,942 shares during the same period.