Future Prospects And Stock Pricing Of Li-Cycle Holdings Corp (NYSE: LICY)

In today’s recent session, 1.59 million shares of the Li-Cycle Holdings Corp (NYSE:LICY) have been traded, and its beta is 1.38. Most recently the company’s share price was $0.98, and it changed around -$0.01 or -0.99% from the last close, which brings the market valuation of the company to $175.53M. LICY at last check was trading at a discount to its 52-week high of $6.16, offering almost -528.57% off that amount. The share price’s 52-week low was $0.35, which indicates that the recent value has risen by an impressive 64.29% since then. We note from Li-Cycle Holdings Corp’s average daily trading volume that its 10-day average is 20.44 million shares, with the 3-month average coming to 8.42 million.

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

Instantly LICY has been showing red trend so far today with a performance of -0.99% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 67.63% year-to-date, but still up 13.40% over the last five days. On the other hand, Li-Cycle Holdings Corp (NYSE:LICY) is 130.72% up in the 30-day period. We can see from the shorts that 20.08 million shares have been sold at a short interest cover period of 2.07 day(s).

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The consensus price target as assigned by Wall Street analysts is $9.6, which translates to bulls needing to increase their stock price by 89.79% from its current value. Analyst projections state that LICY is forecast to be at a low of $7 and a high of $13.

Li-Cycle Holdings Corp (LICY) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 22.70% in revenue this quarter, and will report an increase of 15.00% in the next quarter. The year-over-year growth rate is expected to be -21.90%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $4.51 million in revenue for the current quarter. 1 analysts expect Li-Cycle Holdings Corp to make $4.7 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -44.50%.

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

Upon looking at major shareholders, it appears that insiders hold 21.78% of Li-Cycle Holdings Corp shares, and 37.20% of them are in the hands of institutional investors. The stock currently has a share float of 47.56%. Li-Cycle Holdings Corp stock is held by 198 institutions, with Covalis Capital LLP being the largest institutional investor. By Jun 29, 2023, it held 6.75% of the shares, which is about 12.02 million shares worth $66.72 million.

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

iShares Russell 2000 ETF and Primecap Odyssey Aggressive Growth Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 3.19 million shares worth $14.17 million, making up 1.79% of all outstanding shares. On the other hand, Primecap Odyssey Aggressive Growth Fund held roughly 2.58 million shares worth around $15.58 million, which represents about 1.45% of the total shares outstanding.