Buying Lithium Americas Corp (NewCo) (NYSE: LAC)? Here Are Some Things To Consider

Lithium Americas Corp (NewCo) (NYSE:LAC) shares, rose in value, with the stock price up by 0.57% to the previous day’s close as strong demand from buyers drove the stock to $7.09.

Actively observing the price movement in the last trading, the stock closed the session at $7.05. Referring to stock’s 52-week performance, its high was $12.38, and the low was $3.81. On the whole, LAC has fluctuated by 30.57% over the past month.

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With the market capitalization of Lithium Americas Corp (NewCo) currently standing at about $1.15 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 29, 2024 – Apr 02, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.03 for fiscal year -$0.11 and then to about -$0.25 by fiscal year 2025. Data indicates that the EPS growth is expected to be 50.00% in 2025, while the next year’s EPS growth is forecast to be -127.30%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LAC currently trading nearly 15.98% and 37.55% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.20, while the 7-day volatility ratio is showing 5.40% which for the 30-day chart, stands at 8.87%. Furthermore, Lithium Americas Corp (NewCo) (LAC)’s average true range (ATR) is 0.49.

Data on historical trading for Lithium Americas Corp (NewCo) (NYSE:LAC) indicates that the trading volumes over the past 10 days have averaged 4.19 million and over the past 3 months, they’ve averaged 3.54 million. According to company’s latest data on outstanding shares, there are 161.78 million shares outstanding.

Nearly 19.65% of Lithium Americas Corp (NewCo)’s shares belong to company insiders and institutional investors own 16.01% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.34 million shares as on Mar 15, 2024, resulting in a short ratio of 3.9. According to the data, the short interest in Lithium Americas Corp (NewCo) (LAC) stood at 10.71% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.51 million. The stock has risen by 10.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LAC stock heading into the next quarter.