There Is Clear Momentum For Lithium Americas Corp (NewCo) (NYSE: LAC)

Lithium Americas Corp (NewCo) (LAC) concluded trading on Wednesday at a closing price of $7.09, with 3.51 million shares of worth about $24.88 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -30.01% during that period and on April 3, 2024 the price saw a gain of about 0.57%. Currently the company’s common shares owned by public are about 161.78M shares, out of which, 130.27M shares are available for trading.

However, the stock later moved at a day high price of 5.89, or with a gain of 0.57%. Stock saw a price change of 7.10% in past 5 days and over the past one month there was a price change of 30.57%. Over the period of past 52 weeks, stock dropped to lowest price of $3.81 but also hit the highest price of $12.38 during that period. The average intraday trading volume for Lithium Americas Corp (NewCo) shares is 3.54 million. The stock is currently trading 15.98% above its 20-day simple moving average (SMA20), while that difference is up 37.55% for SMA50 and it goes to 11.67% higher than SMA200.

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Lithium Americas Corp (NewCo) (NYSE: LAC) currently have 161.78M outstanding shares and institutions hold larger chunk of about 16.01% of that.

The stock has a current market capitalization of $1.15B. It has posted earnings per share of -$0.09 in the same period. It has Quick Ratio of 3.37 while making debt-to-equity ratio of 0.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LAC, volatility over the week remained 5.40% while standing at 8.87% over the month.

Stock’s fiscal year EPS is expected to drop by -580.92% while it is estimated to decrease by -103.49% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Scotiabank on March 18, 2024 offering a Sector perform rating for the stock and assigned a target price range of between $15 and $7 to it. Coverage by JP Morgan stated Lithium Americas Corp (NewCo) (LAC) stock as a Neutral in their note to investors on December 11, 2023, suggesting a price target of $7 for the stock. Stock get a Hold rating from Deutsche Bank on October 18, 2023.

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