Lithium Americas (NYSE:LAC) Stock Price Down 10.6% – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC)’s share price fell 10.6% on Tuesday . The stock traded as low as $3.23 and last traded at $3.12. 1,449,794 shares were traded during trading, a decline of 68% from the average session volume of 4,495,265 shares. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Scotiabank decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Wedbush initiated coverage on shares of Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target for the company. Cormark raised Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Finally, B. Riley raised 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.51.

Lithium Americas Stock Up 2.1 %

The firm has a market capitalization of $700.66 million, a P/E ratio of -26.46 and a beta of 1.67. The stock has a fifty day moving average of $3.43 and a 200-day moving average of $3.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of Lithium Americas during the 2nd quarter worth approximately $520,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Lithium Americas in the second quarter valued at $32,000. AE Wealth Management LLC acquired a new position in Lithium Americas during the second quarter worth $27,000. Evergreen Capital Management LLC bought a new stake in Lithium Americas during the second quarter worth $27,000. Finally, Marshall Wace LLP acquired a new stake in Lithium Americas in the second quarter valued at $10,252,000.

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.