UBS Group Issues Positive Forecast for Li-Cycle (NYSE:LICY) Stock Price

Li-Cycle (NYSE:LICY) had its price target boosted by UBS Group from $2.00 to $2.25 in a research report released on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Li-Cycle Price Performance

Li-Cycle stock opened at $2.08 on Monday. The stock’s 50 day moving average price is $2.32 and its two-hundred day moving average price is $3.19. The stock has a market capitalization of $48.30 million, a price-to-earnings ratio of -1.66 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 52-week low of $1.22 and a 52-week high of $15.36.

Hedge Funds Weigh In On Li-Cycle

A number of institutional investors and hedge funds have recently made changes to their positions in LICY. Sanctuary Advisors LLC bought a new position in shares of Li-Cycle in the 2nd quarter worth $128,000. Summit Securities Group LLC purchased a new position in Li-Cycle during the 2nd quarter worth $68,000. Sei Investments Co. bought a new stake in shares of Li-Cycle in the 2nd quarter worth $94,000. Green Alpha Advisors LLC grew its position in Li-Cycle by 140.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 65,874 shares of the company’s stock worth $144,000 after purchasing an additional 38,435 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new stake in Li-Cycle in the second quarter worth about $89,000. Institutional investors own 54.12% of the company’s stock.

Li-Cycle Company Profile

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.