Li-Cycle Holdings Corp. (NYSE: LICY) stock fell -5.23% on Friday to $4.35 against a previous-day closing price of $4.59. With 1.76 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.34 million shares. During the session, the Waste Management company that operates in wider Industrials sector, reached to the highest price of $4.5900 whereas the lowest price it dropped to was $4.3100. The 52-week range on LICY shows that it touched its highest point at $6.80 and its lowest point at $4.09 during that stretch. It currently has a 1-year price target of $7.12. Beta for the stock currently stands at 1.30.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LICY was down-trending over the past week, with a drop of -5.43%, but this was down by -2.25% over a month. Three-month performance dropped to -23.95% while six-month performance fell -17.14%. The stock lost -35.27% in the past year, while it has lost -8.61% so far this year. A look at the trailing 12-month EPS for LICY yields -0.61 with Next year EPS estimates of -0.64. For the next quarter, that number is -0.24. This implies an EPS growth rate of 103.00% for this year and 31.50% for next year.
Float and Shares Shorts:
At present, 177.20 million LICY shares are outstanding with a float of 131.25 million shares on hand for trading. On Aug 30, 2023, short shares totaled 13.9 million, which was 7.80% higher than short shares on Jul 30, 2023. In addition to Mr. Tim Johnston C.F.A. as the firm’s Co-Founder, Exec. Chairman & Interim Regional Pres of EMEA, Mr. Ajay Kochhar serves as its Co-Founder, Pres, CEO & Exec. Director.
Through their ownership of 47.13% of LICY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 21.77% of LICY, in contrast to 18.56% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in LICY with 6.75% of the stake, Covalis Capital LLP holds 12,021,924 shares worth 12,021,924. A second-largest stockholder of LICY, BNP Paribas Asset Management UK L, holds 8,001,403 shares, controlling over 4.49% of the firm’s shares. Grantham, Mayo, Van Otterloo & Co is the third largest shareholder in LICY, holding 6,675,847 shares or 3.75% stake. With a 4.15% stake in LICY, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 7,390,161 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.76% of LICY stock, is the second-largest Mutual Fund holder. It holds 3,136,642 shares valued at 13.93 million. PRIMECAP Odyssey Aggressive Growt holds 1.45% of the stake in LICY, owning 2,583,100 shares worth 11.47 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LICY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LICY analysts setting a high price target of $9.00 and a low target of $4.00, the average target price over the next 12 months is $7.13. Based on these targets, LICY could surge 106.9% to reach the target high and fall by -8.05% to reach the target low. Reaching the average price target will result in a growth of 63.91% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded LICY stock several times over the past three months with 8 Buys and 6 Sells. In these transactions, 145,546 shares were bought while 63,782 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 51 over the past year. The total number of shares bought during that period was 1,442,332 while 1,299,417 shares were sold.