Short Interest in Standard Lithium Ltd. (NYSEAMERICAN:SLI) Drops By 40.2%

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

Standard Lithium Trading Down 1.7%

NYSEAMERICAN:SLI traded down $0.06 during trading hours on Tuesday, reaching $3.51. 2,438,679 shares of the company were exchanged, compared to its average volume of 1,501,751. The stock’s 50-day moving average is $3.74 and its 200-day moving average is $4.23. The firm has a market cap of $855.25 million, a PE ratio of -15.95 and a beta of 1.75. Standard Lithium has a twelve month low of $1.77 and a twelve month high of $6.40.

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 objective on the stock. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.13.

Institutional Investors Weigh In On Standard Lithium

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Standard Lithium by 93.0% during the first quarter. Bank of America Corp DE now owns 306,852 shares of the company’s stock worth $1,046,000 after purchasing an additional 147,831 shares in the last quarter. Amundi lifted its stake in Standard Lithium by 64.9% during the first quarter. Amundi now owns 1,779,555 shares of the company’s stock worth $6,068,000 after purchasing an additional 700,555 shares in the last quarter. Weiss Asset Management LP acquired a new position in Standard Lithium during the first quarter worth $450,000. Themes Management Co LLC acquired a new position in Standard Lithium during the first quarter worth $39,000. Finally, Renaissance Technologies LLC acquired a new position in Standard Lithium during the first quarter worth $532,000. Hedge funds and other 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.