As of Tuesday, Li-Cycle Holdings Corp.’s (NYSE:LICY) stock closed at $5.59, down from $5.68 the previous day. While Li-Cycle Holdings Corp. has underperformed by -1.58%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, LICY fell by -29.86%, with highs and lows ranging from $8.71 to $4.48, whereas the simple moving average fell by -7.50% in the last 200 days.
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On January 25, 2023, Morgan Stanley Downgraded Li-Cycle Holdings Corp. (NYSE: LICY) to Underweight. Morgan Stanley also Downgraded LICY shares as ‘Equal-Weight’, setting a target price of $10 on the company’s shares in a report dated February 10, 2022. Chardan Capital Markets Initiated an Buy rating on November 23, 2021, and assigned a price target of $17. Piper Sandler initiated its ‘Overweight’ rating for LICY, as published in its report on November 12, 2021. Citigroup’s report from October 18, 2021 suggests a price prediction of $15 for LICY shares, giving the stock a ‘Buy’ rating. UBS also rated the stock as ‘Buy’.
Analysis of Li-Cycle Holdings Corp. (LICY)
Further, the quarter-over-quarter increase in sales is 55.30%, showing a positive trend in the upcoming months.
One of the most important indicators of Li-Cycle Holdings Corp.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. Taking into account the quick ratio of the company, currently set at 12.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and LICY is recording 1.51M average volume. On a monthly basis, the volatility of the stock is set at 5.52%, whereas on a weekly basis, it is put at 6.72%, with a gain of 16.70% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.29, showing growth from the present price of $5.59, which can serve as yet another indication of whether LICY is worth investing in or should be passed over.
How Do You Analyze Li-Cycle Holdings Corp. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 34.03%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 42.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in LICY shares?
The recent increase in stakes in LICY appears to be a result of several institutional investors and hedge funds increasing their positions. Covalis Capital LLP’s position in LICY has decreased by -3.58% in the first quarter. The company now owns 11,212,655 shares of the stock, with a value of $67.95 million, following the sale of -416,383 additional shares during the last quarter. BNP Paribas Asset Management UK L made another increased to its shares in LICY during the first quarter, upping its stake by 2.64%. During the last quarter, the company picked up 199,057 additional shares for a total stake of worth $46.83 million, bringing number of shares owned by the company to 7,727,618.
During the first quarter, Grantham, Mayo, Van Otterloo & Co added a 1,776,900 position in LICY. BlackRock Fund Advisors purchased an additional 0.41 million shares in the last quarter, increasing its holdings by 7.33%, now holding 5.97 million shares worth $36.15 million. At the end of the first quarter, Covalis increased its LICY holdings by 16.53% and now holds 3.58 million LICY shares valued at $21.69 million with the added 0.51 million shares during the period. LICY shares are owned by institutional investors to the tune of 42.30% at present.
