Li-Cycle Holdings Corp (NYSE: LICY) Is A Risk Capital Investor’s Play

In the last trading session, 7.75 million Li-Cycle Holdings Corp (NYSE:LICY) shares changed hands as the company’s beta touched 1.11. With the company’s per share price at $0.63 changed hands at -$0.02 or -2.93% during last session, the market valuation stood at $111.74M. LICY’s last price was a discount, traded about -944.44% off its 52-week high of $6.58. The share price had its 52-week low at $0.50, which suggests the last value was 20.63% up since then. When we look at Li-Cycle Holdings Corp’s average trading volume, we note the 10-day average is 11.82 million shares, with the 3-month average coming to 3.93 million.

Analysts gave the Li-Cycle Holdings Corp (LICY) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.33. If we narrow down to specifics, the data shows that 1 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended LICY as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Li-Cycle Holdings Corp’s EPS for the current quarter is expected to be -$0.22.

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Li-Cycle Holdings Corp (NYSE:LICY) trade information

Instantly LICY was in red as seen at the end of in last trading. With action -59.81%, the performance over the past five days has been red. The drop to weekly highs of 1.6200 on Friday, 11/17/23 subtracted -2.93% to the stock’s daily price. The company’s shares are showing year-to-date downside of -86.83%, with the 5-day performance at -59.81% in the red. However, in the 30-day time frame, Li-Cycle Holdings Corp (NYSE:LICY) is -73.55% down. Looking at the short shares, we see there were 14.15 million shares sold at short interest cover period of 3.4 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.09, meaning bulls need an upside of 42.2% from its current market value. According to analyst projections, LICY’s forecast low is $0.51 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -217.46% plunge from its current level, while the stock would need to tank 19.05% for it to hit the projected low.

Li-Cycle Holdings Corp (LICY) estimates and forecasts

Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Li-Cycle Holdings Corp will fall -15.80%.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $2.13 million. 1 analysts are of the opinion that Li-Cycle Holdings Corp’s revenue for the quarter ending Mar 2024 will be $29.6 million. The estimates for the next quarter sales put growth at 264.50%.

The 2023 estimates are for Li-Cycle Holdings Corp earnings to increase by 107.00%.

LICY Dividends

Li-Cycle Holdings Corp is expected to release its next quarterly earnings report between January 28 and February 02.

Li-Cycle Holdings Corp (NYSE:LICY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 21.86% of Li-Cycle Holdings Corp shares while 47.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 60.32%. There are 47.13% institutions holding the Li-Cycle Holdings Corp stock share, with Covalis Capital LLP the top institutional holder. As of Jun 29, 2023, the company held 6.75% of the shares, roughly 12.02 million LICY shares worth $66.72 million.

BNP Paribas Asset Management Holding S.A. holds the second largest percentage of outstanding shares, with 4.49% or 8.0 million shares worth $44.41 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Russell 2000 ETF and Primecap Odyssey Aggressive Growth Fund. With 3.19 million shares estimated at $14.17 million under it, the former controlled 1.79% of total outstanding shares. On the other hand, Primecap Odyssey Aggressive Growth Fund held about 1.45% of the shares, roughly 2.58 million shares worth around $15.58 million.

On Key

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