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

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading on Thursday. Stock investors purchased 3,374 call options on the company. This is an increase of 96% compared to the average daily volume of 1,723 call options.

Lithium Americas Trading Down 3.4 %

Shares of LAC opened at $2.39 on Friday. The business’s fifty day moving average price is $2.55 and its two-hundred day moving average price is $3.93. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $12.38.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Research analysts anticipate that Lithium Americas will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Lithium Americas in the 1st quarter worth $25,000. Mather Group LLC. bought a new position in shares of Lithium Americas in the 1st quarter worth $26,000. Quent Capital LLC bought a new position in shares of Lithium Americas in the 1st quarter worth $48,000. Headlands Technologies LLC boosted its position in shares of Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock worth $52,000 after purchasing an additional 7,370 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in Lithium Americas during the second quarter worth about $27,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LAC shares. Deutsche Bank Aktiengesellschaft dropped their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Piper Sandler began coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. National Bank Financial raised Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. B. Riley dropped their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Scotiabank dropped their price target on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Lithium Americas has a consensus rating of “Moderate Buy” and an average price target of $6.61.

About Lithium Americas

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.