Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 1.6% – Here’s What Happened

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) traded down 1.6% on Monday. The company traded as low as $1.77 and last traded at $1.83. Approximately 3,251,330 shares changed hands during trading, an increase of 90% from the average session volume of 1,706,757 shares. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on Standard Lithium in a research note on Wednesday, September 2nd. They set a “hold” rating and a $2.90 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.16.

Standard Lithium Price Performance

The stock has a market cap of $451.61 million, a P/E ratio of -9.15 and a beta of 1.89. The stock’s 50-day moving average is $2.27 and its two-hundred day moving average is $3.05.

Institutional Trading of Standard Lithium

Hedge funds have recently modified their holdings of the company. Encompass Capital Advisors LLC purchased a new stake in shares of Standard Lithium during the 4th quarter valued at about $36,000,000. Amundi lifted its holdings in Standard Lithium by 64.9% during the 1st quarter. Amundi now owns 1,779,555 shares of the company’s stock valued at $6,068,000 after buying an additional 700,555 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Standard Lithium by 49.9% during the first quarter. Walleye Capital LLC now owns 733,391 shares of the company’s stock valued at $2,501,000 after acquiring an additional 244,115 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Standard Lithium in the 2nd quarter worth $1,595,000. Finally, BlackRock Inc. purchased a new stake in Standard Lithium in the second quarter worth about $1,149,000. 16.70% of the stock is owned by hedge funds and other institutional investors.

Standard Lithium Company Profile

Standard Lithium Ltd. is a Canadian development-stage company focused on producing battery-grade lithium from brine resources in the United States. Its primary projects are located in southwestern Arkansas and are associated with the Smackover Formation, a region known for lithium-bearing brines.

The company is developing direct lithium extraction (DLE) technology designed to selectively remove lithium from brine before the remaining fluids are reinjected underground. Standard Lithium has operated a demonstration plant in Arkansas and is working to advance commercial-scale production of lithium compounds, including lithium carbonate, for use in electric-vehicle batteries, energy-storage systems, and other applications.

Standard Lithium has historically worked with industrial and energy partners, including LANXESS, to evaluate lithium recovery from brines produced during existing operations in the region.