Li-Cycle (NYSE: LICY) demoted for sale at Zacks Investment Research

Li-Cycle (NYSE: LICY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Tuesday, Zacks.com reports.

According to Zacks, “Li-Cycle Holdings Corp. is involved in lithium-ion battery resource recovery and lithium-ion battery recycling primarily in North America. Li-Cycle Holdings Corp., formerly known as Peridot Acquisition Corp., is based in TORONTO. “

Other equity research analysts have also recently published research reports on the company. Chardan Capital assumed coverage of Li-Cycle in a report on Tuesday, November 23. They set a “buy” rating and a price target of $ 17.00 for the company. Wedbush kicked off coverage on Li-Cycle in a research note on Monday, September 20. They issued an “outperformance” rating and a price target of $ 14.00 for the company. Piper Sandler provided coverage on Li-Cycle in a research report on Friday, November 12. They set an “overweight” rating and a target price of $ 18.00 for the stock. BMO Capital Markets launched a cover on Li-Cycle in a research report on Thursday, September 9. They set an “outperformance” rating and a price target of $ 13.00 for the stock. Finally, Citigroup provided coverage on Li-Cycle in a report on Monday, October 18. They set a “buy” rating and a price target of $ 15.00 on the stock. One investment analyst rated the stock with a sell rating, another assigned a conservation rating, and eight assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $ 14.78.

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Li-Cycle stock opened at $ 9.45 on Tuesday. The company has a 50-day simple moving average of $ 12.10. Li-Cycle has a 12 month low of $ 7.69 and a 12 month high of $ 15.74. The company has a current ratio of 0.69, a quick ratio of 0.62, and a debt ratio of 4.17.

A number of hedge funds and other institutional investors have recently changed their holdings to LICY. FNY Investment Advisers LLC purchased a new position in Li-Cycle in the third quarter valued at approximately $ 156,000. DNB Asset Management AS bought a new position in Li-Cycle in the 3rd quarter valued at $ 1,543,000. NEXT Financial Group Inc purchased a new position in Li-Cycle in Q3 valued at $ 398,000. Stratos Wealth Partners LTD. purchased a new position in Li-Cycle in Q3 valued at $ 119,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Li-Cycle during the 3rd quarter for a value of approximately $ 351,000.

Li-Cycle Company Profile

Peridot Acquisition Corp. is a blank check company. It was formed for the purpose of merger, exchange of capital, acquisition of assets, purchase of shares, reorganization or similar business combination with one or more companies. Peridot Acquisition Corp. is based in Houston, Texas.

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Analyst Recommendations for Li-Cycle (NYSE: LICY)

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