Within its last year performance, LICY fell by -30.84%, with highs and lows ranging from $6.66 to $4.09, whereas the simple moving average fell by -17.78% in the last 200 days.
On May 04, 2023, Cantor Fitzgerald started tracking Li-Cycle Holdings Corp. (NYSE: LICY) recommending Buy.
Analysis of Li-Cycle Holdings Corp. (LICY)
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Li-Cycle Holdings Corp.’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 4.80, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and LICY is recording an average volume of 1.35M. On a monthly basis, the volatility of the stock is set at 5.07%, whereas on a weekly basis, it is put at 5.20%, with a loss of -6.65% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.12, showing growth from the present price of $4.35, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 21.86%. 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 -3.61% in the first quarter. The company now owns 12,021,924 shares of the stock, with a value of $53.38 million, following the sale of -450,499 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 9.96%. During the last quarter, the company dropped down 724,488 additional shares for a total stake of worth $35.53 million, bringing number of shares owned by the company to 8,001,403.
During the first quarter, Grantham, Mayo, Van Otterloo & Co subtracted a -138,800 position in LICY. BlackRock Fund Advisors purchased an additional 0.58 million shares in the last quarter, increasing its holdings by 9.95%, now holding 6.43 million shares worth $28.53 million. LICY shares are owned by institutional investors to the tune of 42.30% at present.