Stock Traders Purchase Large Volume of Lithium Americas Put Options (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading on Friday. Stock traders bought 15,065 put options on the stock. This represents an increase of approximately 103% compared to the typical daily volume of 7,439 put options.

Institutional Trading of Lithium Americas

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC acquired a new position in Lithium Americas in the second quarter valued at approximately $27,000. AE Wealth Management LLC purchased a new stake in Lithium Americas in the second quarter valued at $27,000. Quent Capital LLC lifted its stake in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Lithium Americas during the 2nd quarter worth $27,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $32,000.

Analysts Set New Price Targets

Several research firms recently issued reports on LAC. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler decreased their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wedbush assumed coverage on Lithium Americas in a research report on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price on the stock. B. Riley upped their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Lithium Americas has a consensus rating of “Hold” and an average price target of $5.51.

Lithium Americas Trading Up 1.3 %

Shares of LAC opened at $3.49 on Friday. The firm has a 50-day moving average price of $3.48 and a 200 day moving average price of $3.03. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $7.71. The firm has a market capitalization of $769.09 million, a P/E ratio of -29.04 and a beta of 1.67.

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.