Investors Buy Large Volume of Call Options on Lithium Americas (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading on Monday. Stock investors purchased 7,371 call options on the company. This is an increase of 329% compared to the average daily volume of 1,718 call options.

Lithium Americas Stock Performance

Shares of Lithium Americas stock opened at $2.71 on Wednesday. The business has a 50-day moving average of $2.46 and a two-hundred day moving average of $3.57. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $11.50.

Lithium Americas (NYSE:LAC) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, sell-side analysts predict that Lithium Americas will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on LAC. B. Riley decreased their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Piper Sandler began coverage on shares of Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Scotiabank decreased their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and an average price target of $5.56.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in shares of Lithium Americas during the first quarter worth about $25,000. Mather Group LLC. acquired a new position in Lithium Americas during the 1st quarter worth approximately $26,000. Quent Capital LLC bought a new position in shares of Lithium Americas in the first quarter valued at $48,000. Headlands Technologies LLC increased its holdings in Lithium Americas by 2,332.3% during the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock worth $52,000 after purchasing an additional 7,370 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new position in shares of Lithium Americas during the second quarter valued at approximately $27,000.

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.