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

Lithium Americas Corp. (NYSE:LAC) was the recipient of unusually large options trading activity on Friday. Traders bought 15,065 put options on the company. This is an increase of approximately 103% compared to the typical volume of 7,439 put options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LAC. Marshall Wace LLP bought a new position in Lithium Americas in the 2nd quarter worth $10,252,000. Point72 Asset Management L.P. raised its holdings in Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after acquiring an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC raised its holdings in Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after acquiring an additional 381,965 shares during the period. Merewether Investment Management LP bought a new position in Lithium Americas in the 2nd quarter worth $858,000. Finally, HITE Hedge Asset Management LLC bought a new position in Lithium Americas in the 3rd quarter worth $787,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LAC shares. Scotiabank decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Wedbush initiated coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price for the company. B. Riley lifted their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler decreased their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and an average target price of $5.51.

Lithium Americas Trading Up 1.3 %

Lithium Americas stock opened at $3.49 on Friday. The company has a market capitalization of $769.07 million, a P/E ratio of -29.04 and a beta of 1.67. The firm’s fifty day simple moving average is $3.48 and its 200-day simple moving average is $3.04. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $7.71.

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.