Following these proceedings, Piper Sandler initiated its Lithium Americas Corp (NewCo) [LAC] rating to a Neutral in a research note published on July 29, 2024; the price target was $3.90. A number of analysts have revised their coverage, including Scotiabank’s analysts, who decreased its forecast for the stock in mid March from “a Sector outperform” to “a Sector perform”. JP Morgan began covering LAC with “Neutral” recommendation on December 11, 2023. National Bank Financial started covering the stock on November 15, 2023. It rated LAC as “an Outperform”.
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Price Performance Review of LAC
On Tuesday, Lithium Americas Corp (NewCo) [NYSE:LAC] saw its stock fall -4.81% to $2.57. Over the last five days, the stock has gained 4.47%. Lithium Americas Corp (NewCo) shares have fallen nearly -59.84% since the year began. SMA at 50 days reached $2.47, while 200 days put it at $4.16.
Levels Of Support And Resistance For LAC Stock
The 24-hour chart illustrates a support level at 2.48, which if violated will result in even more drops to 2.39. On the upside, there is a resistance level at 2.71. A further resistance level may holdings at 2.85. The Relative Strength Index (RSI) on the 14-day chart is 53.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 47.27%. Stochastics %K at 69.41% indicates the stock is a holding.
How much short interest is there in Lithium Americas Corp (NewCo)?
A steep rise in short interest was recorded in Lithium Americas Corp (NewCo) stocks on 2024-09-13, growing by 2.82 million shares to a total of 25.52 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 22.7 million shares. There was a rise of 11.05%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 31, 2023 when Canaccord Genuity began covering the stock and recommended ‘”a Speculative buy”‘ rating .
