Lithium Americas Sees Unusually High Options Volume (NYSE:LAC)

Key Points

• Lithium Americas Corp. experienced a significant increase in options trading, with 13,196 call options bought, marking a 135% rise from its average daily volume.
• Analysts have given the stock a consensus rating of "Hold", with a price target of $4.15 and a mix of buy and hold ratings from various analysts.
• Recent investments by hedge funds include multiple new positions valued at approximately $27,000 each, indicating growing institutional interest in the company.

Lithium Americas Corp. (NYSE:LAC - Get Free Report) was the recipient of some unusual options trading on Tuesday. Traders bought 13,196 call options on the stock. This is an increase of approximately 135% compared to the average daily volume of 5,614 call options.

Analyst Upgrades and Downgrades

Separately, Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.15.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently made changes to their positions in LAC. Members Wealth LLC bought a new position in shares of Lithium Americas in the 1st quarter valued at about $27,000. Cacti Asset Management LLC bought a new position in shares of Lithium Americas in the 1st quarter valued at about $27,000. Ping Capital Management Inc. bought a new position in shares of Lithium Americas in the 1st quarter valued at about $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Lithium Americas in the 1st quarter valued at about $27,000. Finally, Harbour Investments Inc. grew its position in shares of Lithium Americas by 86.1% in the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock valued at $27,000 after acquiring an additional 4,580 shares during the period.

Lithium Americas Trading Up 0.9%

LAC stock traded up $0.03 during midday trading on Tuesday, reaching $3.23. The company's stock had a trading volume of 8,214,469 shares, compared to its average volume of 5,665,021. Lithium Americas has a 52 week low of $2.28 and a 52 week high of $5.20. The stock has a market cap of $780.56 million, a PE ratio of -14.04 and a beta of 0.70. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. The business's 50-day simple moving average is $2.89 and its 200-day simple moving average is $2.82.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, sell-side analysts expect that Lithium Americas will post -0.12 EPS for the current year.

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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