MYDA Advisors LLC Takes $406,000 Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

MYDA Advisors LLC bought a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 155,000 shares of the company’s stock, valued at approximately $406,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CenterBook Partners LP increased its position in shares of Lithium Americas (Argentina) by 20.0% during the 4th quarter. CenterBook Partners LP now owns 3,096,302 shares of the company’s stock valued at $8,112,000 after purchasing an additional 516,311 shares during the period. Virtu Financial LLC bought a new position in Lithium Americas (Argentina) during the third quarter valued at about $317,000. Tidal Investments LLC grew its holdings in Lithium Americas (Argentina) by 37.1% during the third quarter. Tidal Investments LLC now owns 350,534 shares of the company’s stock worth $1,143,000 after acquiring an additional 94,775 shares during the period. Alberta Investment Management Corp bought a new stake in Lithium Americas (Argentina) in the fourth quarter worth about $240,000. Finally, Wells Fargo & Company MN boosted its position in shares of Lithium Americas (Argentina) by 67.8% during the 4th quarter. Wells Fargo & Company MN now owns 221,772 shares of the company’s stock valued at $581,000 after purchasing an additional 89,591 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Trading Down 1.0 %

NYSE LAAC opened at $2.04 on Friday. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $5.60. The stock’s 50-day moving average price is $2.23 and its two-hundred day moving average price is $2.80. The company has a market cap of $330.34 million, a PE ratio of 0.26 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Separately, Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a report on Monday, January 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.42.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.