D.A. Davidson & CO. Sells 8,050 Shares of Lithium Americas Corp. (NYSE:LAC)

D.A. Davidson & CO. trimmed its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 24.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,350 shares of the company’s stock after selling 8,050 shares during the period. D.A. Davidson & CO.’s holdings in Lithium Americas were worth $72,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its position in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after purchasing an additional 4,893 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after purchasing an additional 3,693 shares during the period. Perigon Wealth Management LLC raised its holdings in shares of Lithium Americas by 46.2% in the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after buying an additional 5,000 shares in the last quarter. Quotient Wealth Partners LLC bought a new position in shares of Lithium Americas during the 4th quarter worth approximately $49,000. Finally, HB Wealth Management LLC acquired a new stake in Lithium Americas in the 4th quarter valued at $55,000.

Lithium Americas Stock Performance

NYSE:LAC opened at $2.75 on Friday. The company has a market cap of $605.78 million, a price-to-earnings ratio of -22.88 and a beta of 1.68. Lithium Americas Corp. has a fifty-two week low of $2.02 and a fifty-two week high of $7.71. The stock has a fifty day moving average price of $3.10 and a 200-day moving average price of $3.11.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target on the stock. Piper Sandler reduced their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. B. Riley increased their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Cormark upgraded Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.51.

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.