Canaccord Genuity Group Issues Positive Forecast for Standard Lithium (NYSEAMERICAN:SLI) Stock Price

Standard Lithium (NYSEAMERICAN:SLI) had its target price increased by Canaccord Genuity Group from $5.00 to $7.50 in a report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets reiterated an “outperform” rating on shares of Standard Lithium in a research report on Monday, September 8th. Raymond James Financial initiated coverage on Standard Lithium in a research report on Friday, July 11th. They set an “outperform” rating and a $2.75 price target for the company. Finally, Roth Capital boosted their price target on Standard Lithium from $4.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $5.42.

Standard Lithium Stock Down 2.3%

Shares of NYSEAMERICAN:SLI opened at $4.21 on Tuesday. Standard Lithium has a 52-week low of $1.08 and a 52-week high of $6.40. The stock has a market cap of $816.49 million, a price-to-earnings ratio of -19.14 and a beta of 1.74. The business has a 50-day moving average price of $3.44 and a 200-day moving average price of $2.44.

Institutional Investors Weigh In On Standard Lithium

Institutional investors and hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in Standard Lithium in the 1st quarter valued at about $435,000. Alps Advisors Inc. raised its position in Standard Lithium by 103.6% in the 1st quarter. Alps Advisors Inc. now owns 316,244 shares of the company’s stock valued at $402,000 after purchasing an additional 160,907 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Standard Lithium by 7.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 117,757 shares of the company’s stock valued at $150,000 after purchasing an additional 8,340 shares in the last quarter. Titleist Asset Management LLC acquired a new stake in Standard Lithium in the 1st quarter valued at about $128,000. Finally, Sowell Financial Services LLC acquired a new stake in Standard Lithium in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 16.70% of the company’s stock.

About Standard Lithium

Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States. Its flagship project is the Lanxess project with area of approximately 150,000 acres located in southern Arkansas. The company was formerly known as Patriot Petroleum Corp. and changed its name to Standard Lithium Ltd.