Lithium AmericasNYSE: LAC

Penny stocks are stocks that have fallen below the $5 per share level, and are often companies that have seen significant selling pressure form. Many such companies are beaten down by the market, heavily shorted, at higher risk of bankruptcy and are investments that are inherently much more risky than the average stock.

Some companies become penny stocks and list on the over-the-counter exchange for various reasons. Often, the market beats down such companies due to market forces, and that's certainly the case for these three penny stocks to buy.

The latest trading day saw Lithium Americas Corp. (LAC) settling at $2.81, representing a +0.36% change from its previous close.

Lithium Americas (NYSE: LAC) recently announced its first-quarter 2024 financial results, with earnings per share coming in at -4 cents.

On the most recent trading day, Lithium Americas Corp. (LAC) closed at $4.44, marking a decrease of -1.11% from its previous closing price.

At the end of the most recent trading session, Lithium Americas Corp. (LAC) closed at $4.57, showing a decrease of 1.08% from the previous day's trading.

The EV sector is currently facing significant criticism, with stocks in the industry experiencing a sharp decline in value over the past year.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

The mean of analysts' price targets for Lithium Americas Corp. (LAC) points to a 60.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.