Standard Lithium (NYSEAMERICAN:SLI) Reaches New 12-Month Low – Here’s What Happened

Standard Lithium Ltd. (NYSEAMERICAN:SLI) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.19 and last traded at $2.20, with a volume of 516699 shares. The stock had previously closed at $2.29.

Analysts Set New Price Targets

Separately, Evercore initiated coverage on Standard Lithium in a research report on Wednesday, April 29th. They issued an “outperform” rating and a $4.75 price target on the stock. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $5.92.

Standard Lithium Stock Down 5.2%

The company’s fifty day moving average price is $3.37 and its two-hundred day moving average price is $3.95. The company has a market cap of $534.69 million, a price-to-earnings ratio of -9.86 and a beta of 1.80.

Standard Lithium (NYSEAMERICAN:SLI) last announced its earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Research analysts forecast that Standard Lithium Ltd. will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Standard Lithium

A number of large investors have recently modified their holdings of SLI. Aquatic Capital Management LLC bought a new position in Standard Lithium in the 3rd quarter worth approximately $26,000. Bank of America Corp DE boosted its position in Standard Lithium by 64.4% in the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock valued at $30,000 after buying an additional 6,040 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Standard Lithium in the 2nd quarter valued at $36,000. Stone House Investment Management LLC raised its position in shares of 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 acquiring an additional 7,343 shares during the last quarter. Finally, Themes Management Co LLC acquired a new position in shares of Standard Lithium during the first quarter valued at $39,000. 16.70% of the stock is currently owned by institutional investors and hedge funds.

Standard Lithium Company Profile

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.