Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Up 44.2% in October

Standard Lithium Ltd. (NYSEAMERICAN:SLI) saw a large increase in short interest in October. As of October 15th, there was short interest totaling 4,990,000 shares, an increase of 44.2% from the September 30th total of 3,460,000 shares. Based on an average daily trading volume, of 4,070,000 shares, the short-interest ratio is currently 1.2 days. Approximately 2.8% of the company’s stock are sold short. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 4,070,000 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of Standard Lithium

Several hedge funds and other institutional investors have recently made changes to their positions in SLI. Y Intercept Hong Kong Ltd purchased a new position in Standard Lithium in the 1st quarter worth $435,000. Alps Advisors Inc. raised its stake in Standard Lithium by 103.6% in the 1st quarter. Alps Advisors Inc. now owns 316,244 shares of the company’s stock worth $402,000 after acquiring an additional 160,907 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake 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 worth $150,000 after acquiring an additional 8,340 shares during the last quarter. Titleist Asset Management LLC purchased a new position in Standard Lithium in the 1st quarter worth $128,000. Finally, Stephens Inc. AR raised its stake in Standard Lithium by 10.6% in the 2nd quarter. Stephens Inc. AR now owns 273,275 shares of the company’s stock worth $536,000 after acquiring an additional 26,270 shares during the last quarter. Hedge funds and other institutional investors own 16.70% of the company’s stock.

Standard Lithium Trading Down 1.0%

Shares of SLI opened at $3.78 on Monday. Standard Lithium has a 12 month low of $1.08 and a 12 month high of $6.40. The stock has a fifty day moving average price of $3.63 and a 200-day moving average price of $2.61. The firm has a market cap of $900.70 million, a PE ratio of -17.18 and a beta of 1.74.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Roth Capital raised their price objective on Standard Lithium from $4.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Raymond James Financial assumed coverage on Standard Lithium in a research report on Friday, July 11th. They set an “outperform” rating and a $2.75 price objective for the company. Canaccord Genuity Group raised their price objective on Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research report on Tuesday, October 21st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $5.42.

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.