The share price of Li-Cycle Holdings Corp. (NYSE:LICY) fell to $6.00 per share on Tuesday from $6.03. While Li-Cycle Holdings Corp. has underperformed by -0.50%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, LICY fell by -16.55%, with highs and lows ranging from $8.15 to $4.30, whereas the simple moving average jumped by 9.99% in the last 200 days.
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On May 04, 2023, Cantor Fitzgerald started tracking Li-Cycle Holdings Corp. (NYSE: LICY) recommending Buy.
Analysis of Li-Cycle Holdings Corp. (LICY)
Further, the quarter-over-quarter decrease in sales is -58.60%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Li-Cycle Holdings Corp.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. Taking into account the quick ratio of the company, currently set at 8.40, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and LICY is recording an average volume of 1.35M. On a monthly basis, the volatility of the stock is set at 5.04%, whereas on a weekly basis, it is put at 3.82%, with a gain of 3.27% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.44, showing growth from the present price of $6.00, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 34.00%. 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 increased by 11.24% in the first quarter. The company now owns 12,472,423 shares of the stock, with a value of $69.22 million, following the purchase of 1,259,768 additional shares during the last quarter. BNP Paribas Asset Management UK L made another decreased to its shares in LICY during the first quarter, downing its stake by -5.83%. During the last quarter, the company picked up -450,703 additional shares for a total stake of worth $40.39 million, bringing number of shares owned by the company to 7,276,915.
During the first quarter, Grantham, Mayo, Van Otterloo & Co added a 691,300 position in LICY. BlackRock Fund Advisors sold an additional -0.12 million shares in the last quarter, decreasing its holdings by -2.03%, now holding 5.84 million shares worth $32.44 million. At the end of the first quarter, Covalis decreased its LICY holdings by -8.52% and now holds 3.27 million LICY shares valued at $18.17 million with the lessened -0.3 million shares during the period. LICY shares are owned by institutional investors to the tune of 42.30% at present.
