PRIMECAP Management Co. recently announced the acquisition of new stake in Li-Cycle Holdings Corp (NYSE:LICY). The institutional investor has increased its shareholding in the Industrials company by 18.43% to 3.19 million shares with purchase of 0.5 million shares. This fresh investment now brings its stake to 1.79% valued currently at $4.27 million. In addition, Invesco Capital Management LLC raised its holdings by 20766.0 to 2.39 million shares. And SSgA Funds Management, Inc. has lifted its position by 3.31% or 70855.0 shares – to 2.21 million shares.
With over 5.11 million Li-Cycle Holdings Corp (LICY) shares trading Tuesday and a closing price of $0.75 on the day, the dollar volume was approximately $3.83 million. The shares have shown a negative half year performance of -85.95% and its price on 12/05/23 lost nearly -5.38%. Currently, there are 175.96M common shares owned by the public and among those 121.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for LICY have a consensus price objective of $1.09. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $0.51. The average price target is 30.56% above its recent price level and a downside to the estimated low will see the stock lose -47.06% over that period. But an upside of 62.5% will see the stock hit the forecast high price target while median target price for the stock is $0.88.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 1,254,401 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 1,245,012 shares.
The top 3 mutual fund holders in Li-Cycle Holdings Corp are BNP Paribas Funds – Energy Transi, iShares Russell 2000 ETF, and PRIMECAP Odyssey Aggressive Growt. BNP Paribas Funds – Energy Transi owns 9.43 million shares of the company’s stock, all valued at over $12.64 million. The company bought an additional 2.59 million shares recently to bring their total holdings to about 5.30% of the shares outstanding. iShares Russell 2000 ETF sold 32096.0 shares to see its total holdings shrink to 3.19 million shares valued at over $4.28 million and representing 1.79% of the shares outstanding. PRIMECAP Odyssey Aggressive Growt bought 0.45 million shares to bring its total holdings to over 2.58 million shares at a value of $3.46 million. PRIMECAP Odyssey Aggressive Growt now owns shares totaling to 1.45% of the shares outstanding.
Shares of Li-Cycle Holdings Corp (NYSE: LICY) opened at $0.80, up $0.01 from a prior closing price of $0.79. However, the script later moved the day high at 0.8270, down -5.38%. The company’s stock has a 5-day price change of 6.12% and -83.99% over the past three months. LICY shares are trading -84.29% year to date (YTD), with the 12-month market performance down to -87.94% lower. It has a 12-month low price of $0.50 and touched a high of $6.58 over the same period. LICY has an average intraday trading volume of 4.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -25.92%, -60.79%, and -82.84% respectively.
Institutional ownership of Li-Cycle Holdings Corp (NYSE: LICY) shares accounts for 38.86% of the company’s 175.96M shares outstanding. Mutual fund holders own 16.94%, while other institutional holders and individual stakeholders account for 22.13% and — respectively.
It has a market capitalization of $133.26M and a beta (3y monthly) value of 1.18. The earnings-per-share (ttm) stands at -$1.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.57% over the week and 21.73% over the month.
Analysts forecast that Li-Cycle Holdings Corp (LICY) will achieve an EPS of -$0.2 for the current quarter, -$0.18 for the next quarter and -$0.66 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.25 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 107.00%, and 1258.57% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Li-Cycle Holdings Corp (LICY) as a “Hold” at a consensus score of 3.33. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”
