Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Up 28.7% in December

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 5,893,358 shares, a growth of 28.7% from the November 30th total of 4,580,790 shares. Based on an average daily trading volume, of 3,366,553 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.5% of the shares of the company are short sold. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 3,366,553 shares, the days-to-cover ratio is presently 1.8 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLI. BMO Capital Markets reiterated an “outperform” rating on shares of Standard Lithium in a research report on Thursday, October 23rd. Canaccord Genuity Group upped their price objective on shares of Standard Lithium from $5.00 to $7.50 and gave the stock a “speculative buy” rating in a report on Tuesday, October 21st. Finally, Roth Capital decreased their price target on Standard Lithium from $6.00 to $5.50 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $5.25.

Standard Lithium Stock Down 1.5%

Shares of NYSEAMERICAN SLI opened at $4.47 on Thursday. Standard Lithium has a 12 month low of $1.08 and a 12 month high of $6.40. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -20.32 and a beta of 1.74. The business has a fifty day simple moving average of $4.17 and a 200-day simple moving average of $3.39.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLI. Aquatic Capital Management LLC purchased a new stake in shares of Standard Lithium in the 3rd quarter valued at approximately $26,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Standard Lithium during the 2nd quarter valued at $27,000. Bank of America Corp DE raised its stake in Standard Lithium by 64.4% during the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock valued at $30,000 after purchasing an additional 6,040 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Standard Lithium in the second quarter valued at $36,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Standard Lithium in the third quarter worth $41,000. 16.70% of the stock is owned by hedge funds and other institutional investors.

Standard Lithium Company Profile

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.