Lithium Americas (NYSE:LAC) Stock Price Down 6.3% – What’s Next?

Lithium Americas Corp. (NYSE:LAC)’s stock price fell 6.3% during trading on Friday . The company traded as low as $3.31 and last traded at $3.3350. Approximately 22,817,840 shares traded hands during trading, an increase of 95% from the average daily volume of 11,706,383 shares. The stock had previously closed at $3.56.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LAC. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. The Goldman Sachs Group began coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 target price on the stock. Scotiabank decreased their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a report on Monday, April 6th. Finally, Wedbush began coverage on Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average price target of $5.44.

Lithium Americas Trading Down 6.3%

The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36. The firm has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $4.75. The firm has a market cap of $1.17 billion, a P/E ratio of -8.13 and a beta of 2.47.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Lido Advisors LLC boosted its holdings in shares of Lithium Americas by 15.1% in the 3rd quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock worth $95,000 after buying an additional 2,183 shares during the last quarter. Quadrant Capital Group LLC raised its position in Lithium Americas by 16.1% in the third quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock worth $96,000 after acquiring an additional 2,321 shares during the period. Public Employees Retirement System of Ohio raised its position in Lithium Americas by 3.6% in the third quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after acquiring an additional 2,356 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Lithium Americas by 0.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock valued at $1,405,000 after acquiring an additional 2,491 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Lithium Americas by 6.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 43,277 shares of the company’s stock valued at $171,000 after acquiring an additional 2,539 shares during the period.

About Lithium Americas

Lithium Americas Corp. is a Vancouver?based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high?purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari?Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.