Lithium Americas (NYSE:LAC) Trading Down 4.9% – Time to Sell?

Lithium Americas Corp. (NYSE:LAC) was down 4.9% during trading on Monday . The company traded as low as $5.21 and last traded at $5.3550. Approximately 14,586,033 shares were traded during trading, a decline of 10% from the average daily volume of 16,256,804 shares. The stock had previously closed at $5.63.

Analyst Upgrades and Downgrades

LAC has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday, November 6th. TD Cowen reiterated a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a research report on Thursday, September 25th. Wedbush boosted their price target on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Jefferies Financial Group lowered their price target on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lithium Americas currently has an average rating of “Hold” and an average price target of $5.33.

Lithium Americas Stock Down 4.9%

The stock has a fifty day moving average price of $6.07 and a two-hundred day moving average price of $3.97. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -5.10 and a beta of 1.39. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. As a group, sell-side analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Transactions at Lithium Americas

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of Lithium Americas stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares of the company’s stock, valued at approximately $609,597. The trade was a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the transaction, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This trade represents a 89.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 364,874 shares of company stock worth $3,404,477 in the last 90 days. Corporate insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Lithium Americas in the 1st quarter worth approximately $27,000. Harbour Investments Inc. grew its stake in shares of Lithium Americas by 86.1% in the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after buying an additional 4,580 shares during the period. Quarry LP purchased a new stake in Lithium Americas in the 3rd quarter valued at about $28,000. Walleye Capital LLC purchased a new position in shares of Lithium Americas during the 2nd quarter worth approximately $28,000. Finally, IHT Wealth Management LLC acquired a new position in Lithium Americas in the 2nd quarter valued at about $28,000.

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.