The stock of Li-Cycle Holdings Corp. (NYSE:LICY) increased by $0.03 on Wednesday to $4.71, up 0.72 percent. The last five days have seen an average of 1,271,021 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$0.09. The average number of shares traded over the last 20 days was 1,602,790, while the average volume over the last 50 days totaled 1,357,470.
LICY stock dropped -21.43% since last month. On 08/25/23, the company’s shares reached a one-month low of $4.09. The stock touched a high of $7.61 on 02/27/23, after rallying from a low of $4.09 in 52 weeks. The price of LICY stock has declined by -0.97% or -$0.09 this year, reaching a new high 14 times. Still, the stock price is down -38.06% from the 52-week high.
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Valuation Metrics
Beta for the stock is 1.30. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 50.64, the price-to-book (PB) ratio of 1.94.
Financial Health
For the three months ended June 29, Li-Cycle Holdings Corp.’s quick ratio was 4.80, while its current ratio was 4.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.78, and the total debt to equity ratio is 0.80. As far as profitability goes, gross margin for the trailing twelve months is -71.00% percent. Based on annual data, it had gross profit of -$2.2 million and revenue of $13.4 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a -2.40% return on investment (ROI) in the past year.
Earnings Surprise
According to Li-Cycle Holdings Corp.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $5.9 million, while revenues fell by -24.92% to $0.0. It was predicted that Li-Cycle Holdings Corp.’s quarterly earnings would be -$0.2, but it ended up being -$0.18, beating the consensus by -11.10%. EBITDA was -$38.5 million for the quarter. At the end of Li-Cycle Holdings Corp.’s most recent quarter ended June 29, its liabilities totaled 428.7 million, while its total debt was $342.7 million.
Technical Picture
Here’s a quick look at Li-Cycle Holdings Corp.’s (LICY) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 47.50%, suggesting the stock is Neutral, with a 65.64% historical volatility rate.
The stochastic %K and %D were 32.84% and 23.77% respectively, while the average true range (ATR) was 0.26. Based on the 14-day stochastic reading of 39.32%, the RSI (14) reading is 43.54%. On the 9-day MACD Oscillator, the stock is at 0.16, and the 14-day reading is at 0.07.
Analyst Ratings
In its analyst report released on May 04, 2023, Cantor Fitzgerald began covering Li-Cycle Holdings Corp. (NYSE: LICY). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Li-Cycle Holdings Corp. (LICY) an Overweight rating. LICY is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is LICY’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.00 and $9.00, with a median target price of $7.50. In analyzing these forecasts, the average price target given by analysts for Li-Cycle Holdings Corp. (LICY) is $7.13.
