Standard Lithium (NYSEAMERICAN:SLI) Stock Price Up 8.7% – Here’s What Happened
by Mitch Edgeman · The Markets DailyStandard Lithium Ltd. (NYSEAMERICAN:SLI – Get Free Report)’s stock price traded up 8.7% during trading on Tuesday . The company traded as high as $3.51 and last traded at $3.51. 418,880 shares changed hands during trading, a decline of 84% from the average session volume of 2,591,156 shares. The stock had previously closed at $3.23.
Analyst Ratings Changes
Separately, BMO Capital Markets reissued an “outperform” rating on shares of Standard Lithium in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standard Lithium currently has an average rating of “Buy” and an average price target of $5.25.
Check Out Our Latest Stock Analysis on Standard Lithium
Standard Lithium Trading Up 8.4%
The stock has a market cap of $849.14 million, a P/E ratio of -15.91 and a beta of 1.71. The stock has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $4.26.
Institutional Investors Weigh In On Standard Lithium
Several institutional investors and hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in shares of Standard Lithium in the 3rd quarter valued at approximately $26,000. Stone House Investment Management LLC lifted its stake in Standard Lithium by 734.3% during the fourth quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock worth $37,000 after purchasing an additional 7,343 shares during the last quarter. Burney Co. acquired a new stake in shares of Standard Lithium in the 4th quarter valued at $45,000. Susquehanna Advisors Group Inc. bought a new position in shares of Standard Lithium in the 4th quarter valued at $48,000. Finally, Argent Advisors Inc. acquired a new position in shares of Standard Lithium during the 4th quarter worth $48,000. Institutional investors own 16.70% of the company’s stock.
About Standard Lithium
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.