Lithium Americas Corp. (NYSE:LAC – Get Rating) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 11,850,000 shares, an increase of 6.4% from the March 15th total of 11,140,000 shares. Approximately 13.3% of the shares of the company are short sold. Based on an average daily trading volume, of 2,630,000 shares, the days-to-cover ratio is currently 4.5 days.
Analyst Ratings Changes
A number of research analysts have weighed in on LAC shares. Pi Financial reaffirmed a “buy” rating on shares of Lithium Americas in a report on Wednesday, March 8th. Piper Sandler reduced their price target on Lithium Americas from $36.00 to $33.00 in a report on Thursday, April 6th. B. Riley raised their price objective on Lithium Americas from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Lithium Americas from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday. Finally, National Bank Financial dropped their price target on shares of Lithium Americas from $42.50 to $38.50 in a research note on Monday, January 16th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $38.13.
Lithium Americas Stock Performance
Shares of NYSE:LAC traded down $0.26 during trading on Friday, reaching $19.04. The stock had a trading volume of 2,018,836 shares, compared to its average volume of 2,543,322. The company has a debt-to-equity ratio of 0.26, a quick ratio of 18.13 and a current ratio of 18.13. Lithium Americas has a 1-year low of $17.58 and a 1-year high of $33.10. The business has a fifty day moving average price of $21.71 and a 200-day moving average price of $22.84.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castle Wealth Management LLC raised its position in shares of Lithium Americas by 100.0% in the third quarter. Castle Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. CWM LLC raised its holdings in Lithium Americas by 47.9% in the 4th quarter. CWM LLC now owns 1,544 shares of the company’s stock valued at $29,000 after acquiring an additional 500 shares during the last quarter. Armstrong Advisory Group Inc. lifted its stake in Lithium Americas by 156.5% in the 1st quarter. Armstrong Advisory Group Inc. now owns 1,475 shares of the company’s stock worth $32,000 after purchasing an additional 900 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Lithium Americas by 1,367.5% in the fourth quarter. Parallel Advisors LLC now owns 1,805 shares of the company’s stock valued at $34,000 after purchasing an additional 1,682 shares in the last quarter. Hedge funds and other institutional investors own 21.88% of the company’s stock.
About Lithium Americas
Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider Lithium Americas, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lithium Americas wasn’t on the list.
While Lithium Americas currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Read the full article here