Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 12.4% – Should You Sell?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s share price was down 12.4% during mid-day trading on Thursday . The company traded as low as $4.80 and last traded at $4.88. Approximately 2,369,485 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 3,254,426 shares. The stock had previously closed at $5.57.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Roth Mkm cut their target price 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. Canaccord Genuity Group boosted their price target 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Standard Lithium in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $5.25.

Standard Lithium Stock Performance

The stock has a 50-day moving average of $4.78 and a two-hundred day moving average of $3.81. The company has a market cap of $1.17 billion, a P/E ratio of -22.09 and a beta of 1.73.

Hedge Funds Weigh In On Standard Lithium

Hedge funds have recently made changes to their positions in the business. Aquatic Capital Management LLC purchased a new stake in Standard Lithium in the third quarter worth about $26,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Standard Lithium in the second quarter worth about $27,000. Bank of America Corp DE raised its stake in Standard Lithium by 64.4% during the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock worth $30,000 after acquiring an additional 6,040 shares during the period. WINTON GROUP Ltd purchased a new position in Standard Lithium in the 2nd quarter worth approximately $36,000. Finally, Stone House Investment Management LLC grew 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 valued at $37,000 after purchasing an additional 7,343 shares in the last quarter. 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.