Standard Lithium (NYSEAMERICAN:SLI) Trading Down 12.4% – Time to Sell?

by · The Markets Daily

Standard Lithium Ltd. (NYSEAMERICAN:SLI – Get Free Report)’s stock price dropped 12.4% on Thursday . The stock traded as low as $4.80 and last traded at $4.88. Approximately 2,369,485 shares traded hands during trading, a decline of 27% from the average daily volume of 3,254,426 shares. The stock had previously closed at $5.57.

Analyst Upgrades and Downgrades

SLI has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research report on Tuesday, October 21st. Roth Mkm cut their price target on shares of Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Standard Lithium in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Standard Lithium presently has a consensus rating of “Buy” and an average target price of $5.25.

View Our Latest Report on Standard Lithium

Standard Lithium Stock Down 10.1%

The company has a market cap of $1.05 billion, a PE ratio of -19.73 and a beta of 1.73. The company’s fifty day moving average is $4.81 and its 200-day moving average is $3.83.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently made changes to their positions in SLI. Aquatic Capital Management LLC purchased a new position in shares of Standard Lithium in the third quarter worth approximately $26,000. Stone House Investment Management LLC raised its position in Standard Lithium by 734.3% in the fourth quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock worth $37,000 after acquiring an additional 7,343 shares during the period. Burney Co. purchased a new position in shares of Standard Lithium during the 4th quarter worth $45,000. HBK Sorce Advisory LLC bought a new stake in shares of Standard Lithium during the 3rd quarter valued at $41,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Standard Lithium by 400.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 12,500 shares of the company’s stock worth $55,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 16.70% of the company’s stock.

About Standard Lithium

(Get Free Report)

Standard Lithium (NYSEAMERICAN: SLI) is a mineral exploration and development company focused on the extraction of lithium from sedimentary brine resources. Utilizing direct lithium extraction (DLE) processes, the company aims to deliver high-purity lithium carbonate and lithium hydroxide suitable for the battery and electric vehicle markets. Standard Lithium’s technology is designed to accelerate lithium recovery rates while minimizing environmental impact compared to traditional solar evaporation methods.

The company’s flagship project is located in the Smackover Formation of southern Arkansas, in collaboration with chemical producer LANXESS.

See Also