It’s still a bull thesis, just subverted: Li-Cycle Holdings Corp. (LICY)

A share price of Li-Cycle Holdings Corp. [LICY] is currently trading at $6.43, up up 3.71%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The LICY shares have lost -4.32% over the last week, with a monthly amount drifted -3.89%, and not seem to be holding up well over a long-time horizon.

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On 19, September 2022, U.S. Senate Majority Leader Charles E. Schumer Visits Li-Cycle Rochester Hub. In a post published today on Yahoo Finance, Senator Schumer commends Li-Cycle for its contributions toward building a sustainable domestic battery materials supply chain in the United States.

From an analyst’s perspective:

Previously, Morgan Stanley downgraded its rating to Equal-Weight on February 10, 2022, and kept the price target unchanged to $10. On November 23, 2021, Chardan Capital Markets initiated with a Buy rating and assigned a price target of $17 on the stock. Piper Sandler started tracking the stock assigning a Overweight rating and suggested a price target of $18 on November 12, 2021. Citigroup initiated its recommendation with a Buy and recommended $15 as its price target on October 18, 2021. UBS started tracking with a Buy rating for this stock on September 22, 2021, and assigned it a price target of $15. In a note dated September 20, 2021, Wedbush initiated an Outperform rating and iterated a target price of $14 on this stock.

Li-Cycle Holdings Corp. experienced fluctuations in its stock price throughout the past year between $5.87 and $14.28. Currently, Wall Street analysts expect the stock to reach $9.89 within the next 12 months. Li-Cycle Holdings Corp. [NYSE: LICY] shares were valued at $6.43 at the most recent close of the market. An investor can expect a potential return of 53.81% based on the average price forecast.

Analyzing the LICY fundamentals

During the last quarter, Li-Cycle Holdings Corp. [NYSE:LICY] saw sales of 8.65 billion, an improvement of 3262.00%. Gross Margin for this corporation currently stands at -221.70% with Operating Margin at -431.97%, Pretax Margin comes in at -3072.04%, and Net Margin reading is -3072.04%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 6.08 points at the first support level, and at 5.72 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.71, and for the 2nd resistance point, it is at 6.98.

Li-Cycle Holdings Corp. [LICY] reported earnings per share of -$0.14 for its fiscal quarter that ended on 4/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.11/share, meaning a difference of $-0.03 and a surprise factor of -27.30%. By comparison, the stated earnings for the previous quarter ended on 1/30/2022 were -$0.14 per share as compared to estimates of -$0.07 per share, a difference of $-0.07 representing a surprise of -100.00%.

Ratios To Look Out For

A current ratio of 17.30 is a noteworthy aspect of Li-Cycle Holdings Corp. [NYSE:LICY]. Also, the Quick Ratio is 28.30, while the Cash Ratio stands at 27.66. Considering the valuation of this stock, the price to sales ratio is 193.22, the price to book ratio is 4.87.

Transactions by insiders

We now turn our attention to insider trading, which in the past 3 months has resulted in 9 insider buyings of 379,325 shares and 8 insider sellings of 213,876 shares.