Koss Olinger Consulting LLC Decreases Stake in Lithium Americas Corp. $LAC

Koss Olinger Consulting LLC decreased its position in Lithium Americas Corp. (NYSE:LAC) by 2.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 304,573 shares of the company’s stock after selling 6,636 shares during the period. Koss Olinger Consulting LLC’s holdings in Lithium Americas were worth $816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Lithium Americas in the 1st quarter valued at about $27,000. Ping Capital Management Inc. bought a new position in shares of Lithium Americas during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. grew its position in shares of Lithium Americas by 86.1% during 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. International Assets Investment Management LLC bought a new position in shares of Lithium Americas during the 2nd quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Lithium Americas during the 1st quarter valued at approximately $37,000.

Insider Buying and Selling

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the transaction, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This trade represents a 89.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.11% of the company’s stock.

Lithium Americas Stock Up 3.8%

LAC opened at $6.73 on Monday. The company has a 50 day moving average of $5.00 and a 200 day moving average of $3.58. The company has a market cap of $1.66 billion, a PE ratio of -29.24 and a beta of 1.43. Lithium Americas Corp. has a 12 month low of $2.31 and a 12 month high of $10.52. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, sell-side analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LAC. JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 target price on shares of Lithium Americas in a research report on Thursday, October 16th. Scotiabank reissued a “sector underperform” rating and set a $5.00 target price (up from $2.75) on shares of Lithium Americas in a research report on Monday, October 6th. Jefferies Financial Group reduced their target price on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lithium Americas in a research report on Wednesday, October 8th. Finally, Cormark downgraded shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $5.30.

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.