Standard Lithium (NYSEAMERICAN:SLI) Reaches New 1-Year Low – Should You Sell?

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) reached a new 52-week low on Thursday . The stock traded as low as $2.19 and last traded at $2.20, with a volume of 516699 shares traded. The stock had previously closed at $2.29.

Wall Street Analyst Weigh In

Separately, Evercore initiated coverage on shares of Standard Lithium in a report on Wednesday, April 29th. They issued an “outperform” rating and a $4.75 price target on the stock. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standard Lithium currently has a consensus rating of “Buy” and an average price target of $5.92.

Standard Lithium Stock Performance

The firm has a 50-day moving average of $3.30 and a 200-day moving average of $3.92. The firm has a market capitalization of $556.86 million, a P/E ratio of -10.27 and a beta of 1.80.

Standard Lithium (NYSEAMERICAN:SLI) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Equities analysts anticipate that Standard Lithium Ltd. will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Standard Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Standard Lithium in the 3rd quarter worth $26,000. Bank of America Corp DE raised its stake 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 acquiring an additional 6,040 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Standard Lithium during the second quarter worth about $36,000. Stone House Investment Management LLC boosted its holdings 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 worth $37,000 after purchasing an additional 7,343 shares during the period. Finally, Themes Management Co LLC purchased a new stake in shares of Standard Lithium during the first quarter worth about $39,000. 16.70% of the stock is currently owned by 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.