Li-Cycle (NYSE:LICY) Stock Price Down 2.7% – What’s Next?

Shares of Li-Cycle Holdings Corp. (NYSE:LICY) were down 2.7% during trading on Wednesday . The company traded as low as $1.72 and last traded at $1.79. Approximately 1,143,089 shares traded hands during trading, an increase of 29% from the average daily volume of 886,367 shares. The stock had previously closed at $1.84.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised their price objective on shares of Li-Cycle from $2.00 to $2.25 and gave the stock a “neutral” rating in a research note on Monday, November 18th.

Li-Cycle Price Performance

The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $41.56 million, a price-to-earnings ratio of -1.43 and a beta of 1.41. The stock has a fifty day moving average of $2.11 and a two-hundred day moving average of $2.70.

Hedge Funds Weigh In On Li-Cycle

Hedge funds and other institutional investors have recently bought and sold shares of the business. Townsquare Capital LLC acquired a new stake in Li-Cycle in the third quarter worth $37,000. Ground Swell Capital LLC acquired a new stake in shares of Li-Cycle during the second quarter worth $89,000. Sei Investments Co. bought a new stake in Li-Cycle in the 2nd quarter valued at $94,000. Sanctuary Advisors LLC acquired a new position in Li-Cycle in the 2nd quarter worth $128,000. Finally, Green Alpha Advisors LLC raised its stake in shares of Li-Cycle by 140.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 65,874 shares of the company’s stock valued at $144,000 after purchasing an additional 38,435 shares during the period. 54.12% of the stock is owned by institutional investors.

Li-Cycle Company Profile

Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America. The company offers a mix of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum; and copper and aluminum metals.