Traders Purchase High Volume of Put Options on Lithium Americas (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) saw unusually large options trading activity on Friday. Traders purchased 15,065 put options on the stock. This represents an increase of 103% compared to the average volume of 7,439 put options.

Wall Street Analysts Forecast Growth

LAC has been the topic of several research analyst reports. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. 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. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. B. Riley lifted their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler decreased their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.51.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Lithium Americas in the second quarter worth about $10,252,000. Point72 Asset Management L.P. raised its stake in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after acquiring an additional 1,584,123 shares during the last quarter. Teamwork Financial Advisors LLC raised its stake in shares of Lithium Americas by 79.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company’s stock worth $2,122,000 after acquiring an additional 315,621 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Lithium Americas by 31.8% in the third quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after acquiring an additional 91,353 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Lithium Americas by 41.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after acquiring an additional 108,993 shares during the last quarter.

Lithium Americas Stock Up 1.3 %

NYSE:LAC opened at $3.49 on Friday. The firm has a market cap of $769.07 million, a PE ratio of -29.04 and a beta of 1.67. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The company’s 50-day moving average price is $3.48 and its two-hundred day moving average price is $3.04.

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.