Lithium Americas Corp (NewCo) (NYSE:LAC) concluded the trading at $6.41 on Thursday, March 21 with a rise of 7.01% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $5.99. Considering stock’s 52-week price range provides that LAC hit a high price of $12.38 and saw its price falling to a low level of $3.81 during that period. Over a period of past 1-month, stock came adding 48.04% in its value.
With its current market valuation of $1.04 billion, Lithium Americas Corp (NewCo) is set to declare its quarterly results on Mar 29, 2024 – Apr 02, 2024. Analysts are in estimates of -$0.04 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.15 for 2024 with estimates of that growing to -$0.26 in next year. These estimates are suggesting current year growth of 31.80% for EPS and -73.30% growth next year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with 1 upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement.
Digging deeper we become aware of the PEG ratio of the LAC stock which is currently positioned at 0. It further provides that stock’s current price level is 20.08% away from its 20-day simple moving average and is 30.40% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 63.34 while volatility remained at 10.75% over the past week which changes to 8.88% when measuring it over the past month. Average true range or ATR is currently at 0.52.
Having a second look at Lithium Americas Corp (NewCo) (NYSE:LAC) provides that stock’s average daily trading volume for 3 months was 3.36 million, while it jumped to 6.56 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 161.78 million.
The percentage of outstanding shares held by the insiders is 19.69% while it is 16.35% for the institutional holders. The figures also indicate that as of Feb 29, 2024, number of stock’s short shares was 15.02 million which implies a short ratio of 5.37. This shows up a 9.31% of Short Interest in company’s outstanding shares on the day. In February the standing of shares short improved as it was 13.72 million in the previous month. Addition of 0.16% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.
