Lithium Americas Corp. (NYSE:LAC) Short Interest Update

Lithium Americas Corp. (NYSE:LAC) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 19,140,000 shares, a decrease of 7.9% from the June 30th total of 20,780,000 shares. Approximately 10.3% of the company’s stock are short sold. Based on an average daily volume of 4,990,000 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

LAC has been the topic of a number of research reports. Piper Sandler initiated coverage on Lithium Americas in a report on Monday. They issued a “neutral” rating and a $3.90 target price on the stock. National Bank Financial upgraded Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Eight Capital dropped their price objective on Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. Finally, HSBC dropped their price objective on Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

Lithium Americas Trading Down 5.9 %

Shares of Lithium Americas stock traded down $0.16 during midday trading on Thursday, hitting $2.55. The company had a trading volume of 3,362,025 shares, compared to its average volume of 4,311,731. The business’s 50 day simple moving average is $2.94 and its two-hundred day simple moving average is $4.39. Lithium Americas has a 1-year low of $2.49 and a 1-year high of $12.38.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). As a group, sell-side analysts expect that Lithium Americas will post -0.09 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently bought and sold shares of LAC. Vanguard Group Inc. boosted its stake in Lithium Americas by 1.1% during the third quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock worth $60,116,000 after buying an additional 39,419 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Lithium Americas in the 4th quarter valued at $71,000. Allworth Financial LP acquired a new stake in shares of Lithium Americas in the 4th quarter valued at $37,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lithium Americas by 24.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after purchasing an additional 461,635 shares in the last quarter. Finally, Aquila Investment Management LLC boosted its stake in shares of Lithium Americas by 163.3% in the 4th quarter. Aquila Investment Management LLC now owns 316,000 shares of the company’s stock valued at $2,022,000 after purchasing an additional 196,000 shares in the last quarter.

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.