Standard Lithium (NYSEAMERICAN:SLI) Trading Up 8.7% – What’s Next?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s share price shot up 8.7% during mid-day trading on Monday . The stock traded as high as $5.10 and last traded at $5.02. 1,448,562 shares were traded during trading, a decline of 47% from the average session volume of 2,727,329 shares. The stock had previously closed at $4.62.

Analyst Upgrades and Downgrades

SLI has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on Standard Lithium from $5.00 to $7.50 and gave the stock a “speculative buy” rating in a report on Tuesday, October 21st. Roth Capital dropped their price target on shares of Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $5.25.

Standard Lithium Stock Performance

The business has a 50 day moving average of $4.12 and a two-hundred day moving average of $3.12. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -22.27 and a beta of 1.74.

Institutional Investors Weigh In On Standard Lithium

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in Standard Lithium by 15.2% in the 3rd quarter. Invesco Ltd. now owns 2,517,414 shares of the company’s stock valued at $8,484,000 after acquiring an additional 331,995 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Standard Lithium by 2.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,641,489 shares of the company’s stock valued at $5,636,000 after acquiring an additional 33,540 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in Standard Lithium during the 3rd quarter worth $2,909,000. Alps Advisors Inc. boosted its holdings in Standard Lithium by 22.3% during the 3rd quarter. Alps Advisors Inc. now owns 548,583 shares of the company’s stock worth $1,849,000 after acquiring an additional 100,031 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Standard Lithium in the 3rd quarter worth approximately $1,816,000. 16.70% of the stock is owned by institutional investors.

About Standard Lithium

Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States. Its flagship project is the Lanxess project with area of approximately 150,000 acres located in southern Arkansas. The company was formerly known as Patriot Petroleum Corp. and changed its name to Standard Lithium Ltd.