Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Up – Here’s Why

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) gapped up prior to trading on Monday . The stock had previously closed at $5.65, but opened at $5.99. Standard Lithium shares last traded at $5.69, with a volume of 1,077,499 shares trading hands.

Analysts Set New Price Targets

SLI has been the subject of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Standard Lithium in a report on Thursday, October 23rd. Roth Mkm 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 report on Wednesday, November 12th. Finally, Canaccord Genuity Group lifted 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. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $5.25.

Standard Lithium Trading Down 6.4%

The stock has a market capitalization of $1.27 billion, a PE ratio of -24.05 and a beta of 1.73. The stock has a 50 day moving average price of $4.68 and a 200-day moving average price of $3.76.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently modified their holdings of SLI. Invesco Ltd. boosted its holdings in shares of Standard Lithium by 15.2% during the 3rd quarter. Invesco Ltd. now owns 2,517,414 shares of the company’s stock valued at $8,484,000 after purchasing an additional 331,995 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 worth $5,636,000 after acquiring an additional 33,540 shares in the last quarter. Stanley Laman Group Ltd. boosted its position in shares of Standard Lithium by 3.4% during the 4th quarter. Stanley Laman Group Ltd. now owns 892,195 shares of the company’s stock valued at $3,988,000 after acquiring an additional 28,957 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Standard Lithium by 22.3% during the 3rd quarter. Alps Advisors Inc. now owns 548,583 shares of the company’s stock valued at $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 third quarter valued at $1,816,000. 16.70% of the stock is currently owned by hedge funds and other institutional investors.

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.