Standard Lithium (NYSEAMERICAN:SLI) Trading 5.8% Higher – Time to Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI) rose 5.8% during trading on Friday . The company traded as high as $5.49 and last traded at $5.47. Approximately 1,343,533 shares changed hands during trading, a decline of 53% from the average daily volume of 2,884,272 shares. The stock had previously closed at $5.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SLI shares. Canaccord Genuity Group boosted their target price on Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research note on Tuesday, October 21st. Roth Mkm lowered their price objective on Standard Lithium from $6.00 to $5.50 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Standard Lithium in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $5.25.

Standard Lithium Trading Up 5.4%

The firm has a market cap of $1.31 billion, a PE ratio of -24.77 and a beta of 1.73. The firm has a fifty day simple moving average of $4.63 and a two-hundred day simple moving average of $3.72.

Institutional Investors Weigh In On Standard Lithium

Institutional investors and hedge funds have recently modified their holdings of the stock. Aquatic Capital Management LLC bought a new stake in Standard Lithium during the 3rd quarter valued at approximately $26,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Standard Lithium in the 2nd quarter valued at approximately $27,000. Bank of America Corp DE boosted its position in shares of Standard Lithium by 64.4% during the second 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 bought a new stake in shares of Standard Lithium in the second quarter worth approximately $36,000. Finally, Stone House Investment Management LLC grew its position in Standard Lithium by 734.3% in the 4th quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock worth $37,000 after purchasing an additional 7,343 shares during the period. 16.70% of the stock is 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.