Li-Cycle (NYSE:LICY) Posts Earnings Results, Misses Expectations By $0.08 EPS

Li-Cycle (NYSE:LICYGet Rating) announced its quarterly earnings data on Wednesday. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08), Fidelity Earnings reports. Li-Cycle had a negative return on equity of 15.16% and a negative net margin of 1,097.02%. During the same period last year, the business earned ($2.67) EPS.

Li-Cycle Trading Down 6.4 %

LICY opened at $6.29 on Friday. Li-Cycle has a twelve month low of $5.87 and a twelve month high of $14.28. The company has a quick ratio of 26.98, a current ratio of 27.12 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $7.01 and a 200-day moving average of $7.33. The stock has a market cap of $1.06 billion, a PE ratio of -4.43 and a beta of 0.59.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LICY shares. Cowen decreased their price target on Li-Cycle from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, June 15th. BMO Capital Markets dropped their price target on shares of Li-Cycle from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday. Chardan Capital dropped their price objective on shares of Li-Cycle from $18.00 to $13.00 and set a “buy” rating for the company in a report on Thursday. Cowen decreased their price target on shares of Li-Cycle from $14.00 to $10.00 in a research note on Wednesday, June 15th. Finally, Morgan Stanley reduced their target price on shares of Li-Cycle from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, June 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.30.

Institutional Trading of Li-Cycle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its position in shares of Li-Cycle by 38.2% during the 1st quarter. Captrust Financial Advisors now owns 5,750 shares of the company’s stock valued at $49,000 after buying an additional 1,590 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Li-Cycle by 48.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 15,083 shares of the company’s stock worth $104,000 after acquiring an additional 4,901 shares during the last quarter. Raymond James & Associates increased its position in shares of Li-Cycle by 8.9% in the first quarter. Raymond James & Associates now owns 63,608 shares of the company’s stock valued at $537,000 after acquiring an additional 5,193 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Li-Cycle in the 1st quarter worth approximately $85,000. Finally, Atria Wealth Solutions Inc. increased its position in Li-Cycle by 18.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 69,045 shares of the company’s stock valued at $475,000 after purchasing an additional 10,716 shares during the period. 35.72% of the stock is owned by institutional investors.

Li-Cycle Company Profile

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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.

Further Reading

Earnings History for Li-Cycle (NYSE:LICY)

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