Lithium Americas (NYSE:LAC) Stock Price Down 7.3% – Time to Sell?

Lithium Americas Corp. (NYSE:LAC)’s share price traded down 7.3% during mid-day trading on Monday . The company traded as low as $5.07 and last traded at $5.10. 19,051,129 shares were traded during mid-day trading, an increase of 18% from the average session volume of 16,111,328 shares. The stock had previously closed at $5.50.

Analyst Upgrades and Downgrades

LAC has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday. Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. BMO Capital Markets raised their price objective on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. TD Cowen reissued a “hold” rating and set a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. Finally, Canaccord Genuity Group downgraded Lithium Americas from a “speculative buy” rating to a “sell” rating in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.30.

Lithium Americas Stock Down 7.3%

The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.26 billion, a P/E ratio of -22.17 and a beta of 1.43. The stock’s fifty day moving average is $5.29 and its two-hundred day moving average is $3.69.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Insider Buying and Selling at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the completion of the sale, the vice president owned 40,005 shares in the company, valued at approximately $379,247.40. This trade represents a 89.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ping Capital Management Inc. bought a new stake in Lithium Americas during the first quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Lithium Americas during the 1st quarter valued at $27,000. Harbour Investments Inc. lifted its holdings 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 worth $27,000 after acquiring an additional 4,580 shares during the last quarter. Walleye Capital LLC purchased a new position in Lithium Americas in the second quarter worth $28,000. Finally, IHT Wealth Management LLC purchased a new position in Lithium Americas in the second quarter worth $28,000.

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.