UBS Group Boosts Li-Cycle (NYSE:LICY) Price Target to $2.25

Li-Cycle (NYSE:LICY) had its target price upped by UBS Group from $2.00 to $2.25 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential downside of 2.60% from the company’s current price.

Li-Cycle Stock Up 5.0 %

LICY stock opened at $2.31 on Monday. The stock’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $3.23. The company has a market cap of $53.64 million, a P/E ratio of -1.85 and a beta of 1.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.54 and a current ratio of 0.60. Li-Cycle has a fifty-two week low of $1.22 and a fifty-two week high of $15.36.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in shares of Li-Cycle in the 2nd quarter worth about $128,000. Summit Securities Group LLC bought a new stake in Li-Cycle during the 2nd quarter worth approximately $68,000. Sei Investments Co. purchased a new stake in shares of Li-Cycle in the second quarter worth approximately $94,000. Green Alpha Advisors LLC lifted its holdings in shares of Li-Cycle by 140.1% in the third quarter. Green Alpha Advisors LLC now owns 65,874 shares of the company’s stock valued at $144,000 after purchasing an additional 38,435 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of Li-Cycle during the second quarter valued at approximately $89,000. 54.12% of the stock is owned by institutional investors.

About Li-Cycle

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.