Li-Cycle Holdings Corp (NYSE:LICY) shares, rose in value, with the stock price down by -2.85% to the previous day’s close as strong demand from buyers drove the stock to $0.92.
Actively observing the price movement in the last trading, the stock closed the session at $0.94. The value of beta (5-year monthly) was 0.96. Referring to stock’s 52-week performance, its high was $6.16, and the low was $0.35. On the whole, LICY has fluctuated by 122.53% over the past month.
With the market capitalization of Li-Cycle Holdings Corp currently standing at about $164.12 million, investors are eagerly awaiting this quarter’s results, scheduled for May 13, 2024 – May 18, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.17 for fiscal year -$0.56 and then to about -$0.49 by fiscal year 2025. Data indicates that the EPS growth is expected to be 28.20% in 2025, while the next year’s EPS growth is forecast to be 12.50%.
Analysts have estimated the company’s revenue for the quarter at $4.51 million, with a low estimate of $4.51 million and a high estimate of $4.51 million. According to the average forecast, sales growth in current quarter could jump down -44.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $14.3 million, representing a decrease of -21.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that LICY’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LICY currently trading nearly 9.58% and 56.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.64, while the 7-day volatility ratio is showing 16.36% which for the 30-day chart, stands at 22.87%. Furthermore, Li-Cycle Holdings Corp (LICY)’s beta value is 1.39, and its average true range (ATR) is 0.17.
A comparison of Li-Cycle Holdings Corp (LICY) with its peers suggests the former has fared considerably weaker in the market. LICY showed an intraday change of -2.85% in last session, and over the past year, it shrunk by -83.72%%.
Data on historical trading for Li-Cycle Holdings Corp (NYSE:LICY) indicates that the trading volumes over the past 10 days have averaged 9.14 million and over the past 3 months, they’ve averaged 8.45 million. According to company’s latest data on outstanding shares, there are 178.20 million shares outstanding.
Nearly 32.81% of Li-Cycle Holdings Corp’s shares belong to company insiders and institutional investors own 32.67% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.08 million shares as on Mar 15, 2024, resulting in a short ratio of 2.07. According to the data, the short interest in Li-Cycle Holdings Corp (LICY) stood at 11.21% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 15.33 million. The stock has risen by 56.74% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LICY stock heading into the next quarter.
