Standard Lithium Ltd. (NYSEAMERICAN:SLI – Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 876,658 shares changed hands during mid-day trading, a decline of 58% from the previous session’s volume of 2,067,975 shares.The stock last traded at $2.80 and had previously closed at $2.55.
Standard Lithium Price Performance
The stock’s fifty day simple moving average is $2.44 and its 200-day simple moving average is $3.37. The stock has a market cap of $662.84 million, a P/E ratio of -13.45 and a beta of 1.83.
Hedge Funds Weigh In On Standard Lithium
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLI. Bank of America Corp DE bought a new stake in Standard Lithium during the 2nd quarter valued at $1,595,000. Jones Financial Companies Lllp grew its stake in shares of Standard Lithium by 23.3% in the second quarter. Jones Financial Companies Lllp now owns 27,244 shares of the company’s stock worth $77,000 after purchasing an additional 5,157 shares in the last quarter. Strategic Wealth Partners Ltd. increased its holdings in shares of Standard Lithium by 26.3% during the second quarter. Strategic Wealth Partners Ltd. now owns 24,094 shares of the company’s stock valued at $66,000 after purchasing an additional 5,020 shares during the period. BlackRock Inc. acquired a new position in shares of Standard Lithium during the second quarter valued at $1,149,000. Finally, Uniting Wealth Partners LLC bought a new stake in shares of Standard Lithium during the second quarter valued at about $55,000. 16.70% of the stock is owned by institutional investors.
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.
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