BNP Paribas Asset Management UK L has recently announced that it has increased stake in Li-Cycle Holdings Corp. (NYSE:LICY) by 2.64%. After grabbing 7.73 million shares, the institutional investor is now in possession of 0.2 million shares of the Industrials Company. The new investment brought the stake of investor firm to 4.38% having worth around $46.83 million. Moreover, Grantham, Mayo, Van Otterloo & Co increased its share by 1.78 million to have a control over 6.12 million shares. And BlackRock Fund Advisors raised its holdings to 0.41 million shares by acquiring 5.97 million shares or 3.39% of the stake.
Li-Cycle Holdings Corp. (LICY) concluded trading on 03/16/23 at a closing price of $5.25, with 1.49 million shares of worth about $7.83 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -21.88% during that period and on Thursday the price saw a gain of about 3.75%. Currently the company’s common shares owned by public are about 175.60M shares, out of which, 136.62M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the LICY stock and their offered price forecasts bring an average price target of $8.43. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $10.00 and could fall to a lowest price of $4.00. The stock’s current price level is 36.36% above of average price target set by the analysts, while a rise to estimated low would result in loss of -31.25% for the stock. However, touching the estimated high of $10.00 would mean a gain of 47.5% for the stock.
BNP Paribas Funds – Energy Transi, iShares Russell 2000 ETF, and PRIMECAP Odyssey Aggressive Growt are the top 3 mutual funds which are holding stakes in Li-Cycle Holdings Corp. BNP Paribas Funds – Energy Transi is currently holding 6.56 million shares of worth totaling $39.74 million. The company recently came buying 1.06 million shares which brought its stake up to 3.72% of the company’s outstanding shares. iShares Russell 2000 ETF sold 9414.0 shares, after which its hold over company’s outstanding shares shrunk to 1.69%, leaving 2.97 million shares with the mutual fund that have a worth of about $18.02 million. PRIMECAP Odyssey Aggressive Growt, after selling 2.01 million shares, have now control over 1.14% of the stake in the company. It holds 1000.0 shares of worth $12.17 million.
Li-Cycle Holdings Corp. (NYSE: LICY) started trading at $5.09, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 5.32, or with a gain of 3.75%. Stock saw a price change of -1.32% in past 5 days and over the past one month there was a price change of -9.79%. Year-to-date (YTD), LICY shares are showing a performance of 10.29% which decreased to -34.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.48 but also hit the highest price of $9.48 during that period. The average intraday trading volume for Li-Cycle Holdings Corp. shares is 1.40 million. The stock is currently trading -7.48% below its 20-day simple moving average (SMA20), while that difference is down -6.52% for SMA50 and it goes to -15.26% lower than SMA200.
BNP Paribas Asset Management UK L acquired 7.73 million shares of Li-Cycle Holdings Corp. having value of about $46.83 million. Data submitted at the U.S SEC by BNP Paribas Asset Management UK L revealed that the firm now holds 0.2 million shares in the company valued at close to $1045049.25, or have control over 2.64% stake in the company. Li-Cycle Holdings Corp. (NYSE: LICY) currently have 175.60M outstanding shares and institutions hold larger chunk of about 42.30% of that. Holding of mutual funds in the company is about 19.89% while other institutional holders and individual stake holders have control over 20.89% and — of the stake respectively.
The stock has a current market capitalization of $946.94M. It has posted earnings per share of -$0.30 in the same period. It has Quick Ratio of 12.80 while making debt-to-equity ratio of 0.69. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LICY, volatility over the week remained 6.15% while standing at 5.79% over the month.
Analysts are in expectations that Li-Cycle Holdings Corp. (LICY) stock would likely to be making an EPS of -$0.18 in the current quarter, while forecast for next quarter EPS is -$0.17 and it is -$0.19 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.26 which is -$0.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 77.40% while it is estimated to increase by 60.60% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Li-Cycle Holdings Corp. (LICY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 7 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on January 25, 2023 offering an Underweight rating for the stock and assigned a target price range of between $7 and $4 to it. Coverage by Piper Sandler stated Li-Cycle Holdings Corp. (LICY) stock as an Overweight in their note to investors on September 20, 2022, suggesting a price target of $10 for the stock. On February 10, 2022, Morgan Stanley Downgrade their recommendations, while on November 23, 2021, Chardan Capital Markets Initiated their ratings for the stock with a price target of $17. Stock get an Overweight rating from Piper Sandler on November 12, 2021.
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