Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Down 40.2% in May

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 2,779,088 shares, a decline of 40.2% from the May 14th total of 4,650,215 shares. Based on an average daily trading volume, of 1,628,900 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Aquatic Capital Management LLC acquired a new position in shares of Standard Lithium during the 3rd quarter worth about $26,000. Stone House Investment Management LLC boosted its position in shares of Standard Lithium by 734.3% during the 4th 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 in the last quarter. Burney Co. acquired a new position in shares of Standard Lithium during the 4th quarter worth about $45,000. Susquehanna Advisors Group Inc. acquired a new position in shares of Standard Lithium during the 4th quarter worth about $48,000. Finally, Argent Advisors Inc. acquired a new position in shares of Standard Lithium during the 4th quarter worth about $48,000. 16.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Evercore began coverage on Standard Lithium in a research note on Wednesday, April 29th. They set an “outperform” rating and a $4.75 target price for the company. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Standard Lithium presently has an average rating of “Buy” and a consensus price target of $5.13.

Standard Lithium Price Performance

SLI opened at $3.51 on Wednesday. Standard Lithium has a 12 month low of $1.77 and a 12 month high of $6.40. The stock has a market capitalization of $855.25 million, a price-to-earnings ratio of -15.95 and a beta of 1.75. The business has a fifty day moving average price of $3.74 and a 200 day moving average price of $4.23.

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.