Li-Cycle Holdings Corp. (LICY): A Technical View

At the last check on Friday, Li-Cycle Holdings Corp.’s (NYSE:LICY) stock was down -$0.32, moving down -4.26 percent to $7.19. The average number of shares traded per day over the past five days has been 936,573 shares. 3 times new highs have been achieved over the past 5 days, with a $0.11 gain in that time frame. In the last twenty days, the average volume was 1,080,918, while in the previous 50 days, it was 1,759,337.

Since last month, LICY stock rose 17.34%. Shares of the company fell to $5.87 on 07/13/22, the lowest level in the past month. A 52-week high of $14.28 was reached on 01/04/22 after having rallying from a 52-week low of $5.87. Since the beginning of this year, LICY’s stock price has dropped by -24.60% or -$2.66, and marked a new high 2 times. However, the stock has declined by -49.65% since its 52-week high.


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Financial Health

In the three months ended April 29, Li-Cycle Holdings Corp.’s quick ratio stood at 11.20, while its current ratio was 11.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending April 29 was 0.24, and the total debt-to-equity ratio was 0.25. Based on annual data, LICY earned $39.23 million in gross profit and brought in $7.38 million in revenue.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Li-Cycle Holdings Corp. to report -$0.11 quarterly earnings, the actual figure was -$0.14 per share, beating the consensus estimate by -27.30%. During the quarter, the company generated -$16.9 million in EBITDA. The liabilities of Li-Cycle Holdings Corp. were 137.25 million at the end of its most recent quarter ended April 29, and its total debt was $123.54 million. The value of shareholders’ equity is $168.89 million.

Technical Picture

This quick technical analysis looks at Li-Cycle Holdings Corp.’s (LICY) price momentum. With a historical volatility rate of 80.36%, the RSI 9-day stood at 59.73% on 04 August.

With respect to its five-day moving average, the current Li-Cycle Holdings Corp. price is up by +1.60% percent or $0.11. At present, LICY shares trade +10.18% above its 20-day simple moving average and -7.65% percent below its 100-day simple moving average. However, the stock is currently trading approximately -8.35% below its SMA50 and -37.41% below its SMA200.

Stochastic coefficient K was 83.48% and Stochastic coefficient D was 88.37%, while ATR was 0.40. Given the Stochastic reading of 72.23% for the 14-day period, the RSI (14) reading has been calculated as 56.60%. As of today, the MACD Oscillator reading stands at 0.35, while the 14-day reading stands at 0.44.

Analyst Ratings

Li-Cycle Holdings Corp. downgraded its rating on Li-Cycle Holdings Corp. (NYSE: LICY) to an Equal-weight in a note to investors on February 10, 2022. The analysts firm previously had an Overweight rating on the stock.Li-Cycle Holdings Corp. (LICY) has been rated Overweight by analysts. According to 0 brokerage firms, LICY is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Li-Cycle Holdings Corp. stock as buy, with 6 recommending it as overweight.

With a median target price of $10.50, the current consensus forecast for the stock is $8.00 – $18.00. Based on these forecasts, analysts predict Li-Cycle Holdings Corp. (LICY) will achieve an average price target of $11.50.

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