Li-Cycle (NYSE:LICY) had its target price decreased by investment analysts at Robert W. Baird from $8.00 to $7.00 in a report issued on Tuesday, The Fly reports. Robert W. Baird's price target suggests a potential upside of 30.60% from the stock's previous close.
A number of other brokerages also recently weighed in on LICY. Morgan Stanley downgraded shares of Li-Cycle from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $7.00 to $4.00 in a research report on Wednesday, January 25th. Citigroup cut their target price on shares of Li-Cycle from $8.00 to $7.50 and set a "buy" rating on the stock in a report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.94.
Get Li-Cycle alerts:
Li-Cycle Trading Down 7.1 %
NYSE LICY opened at $5.36 on Tuesday. The company has a current ratio of 17.25, a quick ratio of 17.12 and a debt-to-equity ratio of 0.54. Li-Cycle has a 12 month low of $4.48 and a 12 month high of $9.48. The company has a market capitalization of $940.30 million, a PE ratio of -3.77 and a beta of 1.19. The stock has a 50-day simple moving average of $5.44 and a 200 day simple moving average of $6.08.
Institutional Investors Weigh In On Li-Cycle
Several institutional investors have recently added to or reduced their stakes in LICY. Strs Ohio bought a new stake in shares of Li-Cycle in the second quarter valued at about $211,000. ProShare Advisors LLC acquired a new position in Li-Cycle during the 2nd quarter worth approximately $103,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Li-Cycle by 42.6% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,462 shares of the company's stock worth $155,000 after acquiring an additional 6,712 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Li-Cycle by 24.6% in the 3rd quarter. Mackenzie Financial Corp now owns 131,948 shares of the company's stock valued at $702,000 after acquiring an additional 26,069 shares in the last quarter. Finally, Flputnam Investment Management Co. increased its position in shares of Li-Cycle by 195.0% during the 3rd quarter. Flputnam Investment Management Co. now owns 90,247 shares of the company's stock worth $480,000 after purchasing an additional 59,654 shares during the last quarter. 37.92% of the stock is owned by institutional investors.
About Li-Cycle
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.