Lithium Americas Corp. (NYSE:LAC) Short Interest Down 14.0% in January

Lithium Americas Corp. (NYSE:LAC) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 20,263,302 shares, a decline of 14.0% from the December 31st total of 23,556,062 shares. Based on an average daily trading volume, of 17,379,222 shares, the short-interest ratio is presently 1.2 days. Currently, 6.8% of the shares of the company are sold short. Currently, 6.8% of the shares of the company are sold short. Based on an average daily trading volume, of 17,379,222 shares, the short-interest ratio is presently 1.2 days.

Lithium Americas Stock Down 6.6%

Lithium Americas stock opened at $4.83 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.77 and a quick ratio of 3.77. The stock has a market capitalization of $1.47 billion, a PE ratio of -4.60 and a beta of 1.55. The business has a 50 day simple moving average of $5.27 and a 200-day simple moving average of $4.80. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $10.52.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. On average, analysts anticipate that Lithium Americas will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

LAC has been the subject of a number of research reports. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th. Scotiabank lifted their price target on Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus target price of $5.81.

Insider Buying and Selling at Lithium Americas

In related news, SVP Edward Grandy sold 6,183 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $4.50, for a total value of $27,823.50. Following the transaction, the senior vice president directly owned 135,466 shares of the company’s stock, valued at $609,597. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 10,960 shares of company stock worth $49,372 over the last 90 days. 1.11% of the stock is owned by insiders.

Institutional Trading of Lithium Americas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Lithium Americas by 44.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after buying an additional 324,518 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in Lithium Americas by 33.9% during the second quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company’s stock worth $44,000 after acquiring an additional 4,200 shares during the last quarter. TD Asset Management Inc grew its stake in Lithium Americas by 14.2% during the 2nd quarter. TD Asset Management Inc now owns 241,323 shares of the company’s stock valued at $644,000 after acquiring an additional 29,981 shares in the last quarter. Harbour Investments Inc. grew its stake in Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after acquiring an additional 4,580 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Lithium Americas in the 2nd quarter valued at about $32,000.

About Lithium Americas

Lithium Americas Corp. is a Vancouver?based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high?purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari?Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.