Lithium Americas (NYSE:LAC) Stock Price Down 2.1% - Here's What Happened

Key Points

• Lithium Americas Corp. shares fell by 2.1% to $8.28, with trading volume significantly increasing by 504% compared to the average.
• Research firms have varied assessments, with Wedbush raising their price target from $5.00 to $8.00 and maintaining a "neutral" rating, while Weiss Ratings reiterated a "sell" rating.
• Insider trading was notable as VP Alexi Illya Zawadzki sold 353,914 shares, almost 90% of his position, at an average price of $9.48, indicating potential concerns about the company's future performance.

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares traded down 2.1% on Tuesday . The stock traded as low as $7.97 and last traded at $8.28. 77,519,062 shares were traded during mid-day trading, an increase of 504% from the average session volume of 12,844,234 shares. The stock had previously closed at $8.45.

Wall Street Analyst Weigh In

Several research firms have recently commented on LAC. Wedbush increased their price target on shares of Lithium Americas from $5.00 to $8.00 and gave the company a "neutral" rating in a research note on Wednesday, October 1st. BMO Capital Markets increased their price objective on Lithium Americas from $3.50 to $5.00 and gave the company a "market perform" rating in a research report on Thursday, October 2nd. Scotiabank restated a "sector underperform" rating and set a $5.00 target price (up previously from $2.75) on shares of Lithium Americas in a research report on Monday. Cormark cut Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Lithium Americas in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Lithium Americas presently has an average rating of "Hold" and a consensus price target of $5.33.

Lithium Americas Stock Performance

The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -35.98 and a beta of 1.43. The stock has a 50 day moving average price of $3.62 and a two-hundred day moving average price of $3.09.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Buying and Selling at Lithium Americas

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the sale, the vice president directly owned 40,005 shares in the company, valued at $379,247.40. This trade represents a 89.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Lithium Americas in the 1st quarter valued at $27,000. Ping Capital Management Inc. acquired a new position in Lithium Americas in the first quarter valued at about $27,000. Members Wealth LLC acquired a new position in Lithium Americas in the first quarter valued at about $27,000. Harbour Investments Inc. increased its holdings in shares of Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after acquiring an additional 4,580 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Lithium Americas during the second quarter worth about $28,000.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.

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