Lithium Americas (NYSE:LAC) Stock Price Down 1.3% – Time to Sell?

Lithium Americas Corp. (NYSE:LAC) dropped 1.3% on Wednesday . The stock traded as low as $3.58 and last traded at $3.69. Approximately 1,304,016 shares traded hands during trading, a decline of 76% from the average daily volume of 5,403,635 shares. The stock had previously closed at $3.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LAC shares. BMO Capital Markets raised Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Piper Sandler started coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Finally, B. Riley lifted their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Trading Up 6.2 %

The stock’s 50-day moving average price is $3.24 and its 200-day moving average price is $3.06. The stock has a market cap of $855.14 million and a price-to-earnings ratio of -32.29.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of Lithium Americas in the 2nd quarter worth about $27,000. AE Wealth Management LLC acquired a new position in Lithium Americas in the second quarter valued at approximately $27,000. Evergreen Capital Management LLC bought a new position in shares of Lithium Americas during the 2nd quarter worth approximately $27,000. Quent Capital LLC grew its position in shares of Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Lithium Americas during the 2nd quarter valued at $30,000.

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.