Li-Cycle (NYSE:LICY) Shares Down 2.7% – Should You Sell?

Li-Cycle Holdings Corp. (NYSE:LICY) shares dropped 2.7% on Wednesday . The company traded as low as $1.72 and last traded at $1.79. Approximately 1,143,089 shares traded hands during trading, an increase of 29% from the average daily volume of 886,367 shares. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

Separately, UBS Group increased their price objective on shares of Li-Cycle from $2.00 to $2.25 and gave the company a “neutral” rating in a report on Monday, November 18th.

Li-Cycle Stock Up 32.4 %

The stock has a market cap of $55.03 million, a price-to-earnings ratio of -1.90 and a beta of 1.41. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 1.16. The business’s fifty day moving average is $2.11 and its two-hundred day moving average is $2.70.

Institutional Investors Weigh In On Li-Cycle

Several large investors have recently bought and sold shares of LICY. Ground Swell Capital LLC purchased a new stake in shares of Li-Cycle in the 2nd quarter valued at approximately $89,000. Sei Investments Co. purchased a new position in Li-Cycle in the second quarter valued at $94,000. Townsquare Capital LLC acquired a new stake in Li-Cycle in the third quarter valued at $37,000. Sanctuary Advisors LLC acquired a new position in shares of Li-Cycle during the 2nd quarter worth about $128,000. Finally, Green Alpha Advisors LLC increased its holdings in shares of Li-Cycle by 140.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 65,874 shares of the company’s stock valued at $144,000 after acquiring an additional 38,435 shares during the last quarter. Hedge funds and other institutional investors own 54.12% of the company’s stock.

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.