Standard Lithium (NYSEAMERICAN:SLI) Stock Price Up 8.8% – Should You Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s stock price rose 8.8% during trading on Friday . The company traded as high as $2.49 and last traded at $2.47. 1,503,745 shares changed hands during trading, a decline of 28% from the average session volume of 2,083,412 shares. The stock had previously closed at $2.27.

Analysts Set New Price Targets

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

Standard Lithium Stock Performance

The company’s fifty day moving average price is $2.55 and its 200 day moving average price is $3.44. The firm has a market capitalization of $611.10 million, a price-to-earnings ratio of -12.40 and a beta of 1.83.

Institutional Investors Weigh In On Standard Lithium

Several large investors have recently added to or reduced their stakes in SLI. Jump Financial LLC acquired a new position in shares of Standard Lithium during the second quarter valued at $43,000. Cerity Partners LLC bought a new stake in Standard Lithium in the 2nd quarter valued at about $44,000. WINTON GROUP Ltd acquired a new position in Standard Lithium during the 2nd quarter valued at about $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Standard Lithium by 2.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,607,949 shares of the company’s stock valued at $3,180,000 after purchasing an additional 37,474 shares during the period. Finally, Raymond James Financial Inc. grew its position in Standard Lithium by 4.3% in the 2nd quarter. Raymond James Financial Inc. now owns 110,974 shares of the company’s stock worth $218,000 after purchasing an additional 4,600 shares during the last quarter. 16.70% of the stock is owned by institutional investors and hedge funds.

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.