Lithium Americas (NYSE:LAC) Shares Down 4.4% - Time to Sell?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) fell 4.4% during trading on Thursday . The stock traded as low as $3.90 and last traded at $3.93. 4,211,943 shares traded hands during trading, a decline of 18% from the average session volume of 5,130,632 shares. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LAC. Scotiabank reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a research report on Friday, October 18th. 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 reduced their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Friday, August 16th. Piper Sandler began coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a "neutral" rating and a $3.90 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Lithium Americas presently has an average rating of "Hold" and a consensus price target of $5.50.

Lithium Americas Stock Performance

The stock's 50-day simple moving average is $2.78 and its 200 day simple moving average is $3.17.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). As a group, sell-side analysts expect that Lithium Americas Corp. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Large investors have recently bought and sold shares of the company. Creative Financial Designs Inc. ADV grew its stake in shares of Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company's stock worth $35,000 after purchasing an additional 3,693 shares during the period. Hedges Asset Management LLC grew its stake in shares of Lithium Americas by 100.0% during the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company's stock worth $135,000 after purchasing an additional 25,000 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Lithium Americas by 41.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company's stock worth $1,008,000 after purchasing an additional 108,993 shares during the period. PFG Investments LLC acquired a new position in shares of Lithium Americas during the 3rd quarter worth $90,000. Finally, Ballentine Partners LLC acquired a new position in shares of Lithium Americas during the 3rd quarter worth $67,000.

Lithium Americas Company Profile

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.