Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Down – Should You Sell?

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) gapped down prior to trading on Monday . The stock had previously closed at $4.67, but opened at $4.35. Standard Lithium shares last traded at $4.49, with a volume of 344,235 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently commented on SLI shares. BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research report on Wednesday, January 28th. Roth Mkm cut their price objective on Standard Lithium from $6.00 to $5.50 and set a “buy” rating for the company in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standard Lithium currently has an average rating of “Buy” and a consensus price target of $5.25.

Standard Lithium Stock Up 0.5%

The firm’s 50 day simple moving average is $4.72 and its two-hundred day simple moving average is $4.11. The stock has a market capitalization of $1.06 billion, a P/E ratio of -19.95 and a beta of 1.71.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp bought a new stake in Standard Lithium during the 4th quarter valued at $69,461,000. Encompass Capital Advisors LLC bought a new position in shares of Standard Lithium in the fourth quarter valued at $36,000,000. Burkehill Global Management LP acquired a new position in shares of Standard Lithium during the fourth quarter valued at about $8,940,000. Balyasny Asset Management L.P. bought a new stake in shares of Standard Lithium during the fourth quarter worth about $5,756,000. Finally, Amundi bought a new stake in shares of Standard Lithium during the fourth quarter worth about $4,823,000. Institutional investors own 16.70% of the company’s stock.

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.