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

Lithium Americas Corp. (NYSE:LAC) was the recipient of unusually large options trading activity on Friday. Traders acquired 15,065 put options on the company. This is an increase of approximately 103% compared to the typical volume of 7,439 put options.

Institutional Trading of Lithium Americas

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

Lithium Americas Price Performance

LAC stock opened at $3.49 on Friday. The business’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.03. The firm has a market capitalization of $769.09 million, a P/E ratio of -29.04 and a beta of 1.67. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.71.

Wall Street Analyst Weigh In

LAC has been the topic of a number of research analyst reports. Wedbush started coverage on Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price on the stock. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler lowered their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Scotiabank cut their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. Finally, National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.51.

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.