Li-Cycle (NYSE:LICY) Earns Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Li-Cycle (NYSE:LICYGet Rating) in a research note issued to investors on Tuesday morning, Stock Target Advisor reports. The brokerage currently has a $10.00 target price on the stock.

LICY has been the subject of a number of other reports. BMO Capital Markets reduced their price objective on shares of Li-Cycle from $12.00 to $10.00 and set an outperform rating for the company in a research note on Thursday, September 15th. Cowen reduced their price objective on shares of Li-Cycle from $14.00 to $10.00 and set an outperform rating for the company in a research note on Wednesday, June 15th. Robert W. Baird reduced their price target on shares of Li-Cycle from $11.00 to $8.00 and set a neutral rating for the company in a research report on Thursday, September 15th. Cowen reduced their price target on shares of Li-Cycle from $14.00 to $10.00 in a research report on Wednesday, June 15th. Finally, Morgan Stanley reduced their price target on shares of Li-Cycle from $10.00 to $8.00 and set an equal weight rating for the company in a research report on Friday, June 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $9.63.

Li-Cycle Stock Down 5.6 %

Li-Cycle stock opened at $6.07 on Tuesday. Li-Cycle has a 1-year low of $5.87 and a 1-year high of $14.28. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.27 and a beta of 0.59. The company has a current ratio of 17.25, a quick ratio of 17.12 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $7.00 and a 200 day simple moving average of $7.29.

Li-Cycle (NYSE:LICYGet Rating) last released its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Li-Cycle had a negative net margin of 1,097.02% and a negative return on equity of 14.59%. During the same quarter in the previous year, the business earned ($2.67) earnings per share. On average, analysts predict that Li-Cycle will post -0.39 earnings per share for the current year.

Institutional Trading of Li-Cycle

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in Li-Cycle by 400.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 5,000 shares of the company’s stock worth $42,000 after purchasing an additional 4,000 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in Li-Cycle in the second quarter worth $47,000. Captrust Financial Advisors lifted its stake in Li-Cycle by 38.2% in the first quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock worth $49,000 after purchasing an additional 1,590 shares during the last quarter. Private Advisor Group LLC bought a new stake in Li-Cycle in the second quarter worth $82,000. Finally, Principal Financial Group Inc. bought a new stake in Li-Cycle in the second quarter worth $83,000. 35.72% of the stock is owned by institutional investors.

About Li-Cycle

(Get Rating)

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.

Further Reading

Analyst Recommendations for Li-Cycle (NYSE:LICY)

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