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Will Li-Cycle Holdings Corp (NYSE: LICY) In 2024 Be Worth Your Money?

In the last trading session, 1.49 million Li-Cycle Holdings Corp (NYSE:LICY) shares changed hands as the company’s beta touched 1.01. With the company’s per share price at $0.43 changed hands at $0.03 or 7.85% during last session, the market valuation stood at $76.67M. LICY’s last price was a discount, traded about -1430.23% off its 52-week high of $6.58. The share price had its 52-week low at $0.35, which suggests the last value was 18.6% up since then. When we look at Li-Cycle Holdings Corp’s average trading volume, we note the 10-day average is 2.31 million shares, with the 3-month average coming to 0.27.

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

Instantly LICY was in green as seen at the end of in last trading. With action 8.75%, the performance over the past five days has been green. The jump to weekly highs of 0.4378 added 7.85% to the stock’s daily price. The company’s shares are showing year-to-date downside of -26.45%, with the 5-day performance at 8.75% in the green. However, in the 30-day time frame, Li-Cycle Holdings Corp (NYSE:LICY) is -18.56% down. Looking at the short shares, we see there were 13.62 million shares sold at short interest cover period of 3.93 days.

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Li-Cycle Holdings Corp (LICY) estimates and forecasts

Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Li-Cycle Holdings Corp will fall -5.30%, while the growth in revenue is estimated to hit 18.20% for the next quarter.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $2.45 million. 2 analysts are of the opinion that Li-Cycle Holdings Corp’s revenue for the quarter ending Mar 2024 will be $5.82 million. The estimates for the next quarter sales put growth at -28.30%.

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

If we look at who the major shareholders are, we find that insiders hold 21.88% of Li-Cycle Holdings Corp shares while 44.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 56.39%. There are 44.06% 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.

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