Standard Lithium (NYSEAMERICAN:SLI) Stock Price Up 0.8% – Should You Buy?

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) shot up 0.8% on Thursday . The company traded as high as $2.57 and last traded at $2.54. 1,206,186 shares were traded during trading, a decline of 34% from the average daily volume of 1,817,365 shares. The stock had previously closed at $2.52.

Analysts Set New Price Targets

Separately, Evercore began coverage on shares of Standard Lithium in a research note on Wednesday, April 29th. They issued an “outperform” rating and a $4.75 price target for the company. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.92.

Standard Lithium Stock Performance

The firm has a market capitalization of $606.14 million, a price-to-earnings ratio of -11.18 and a beta of 1.80. The company has a 50-day moving average price of $3.47 and a 200-day moving average price of $4.01.

Standard Lithium (NYSEAMERICAN:SLI) last issued its earnings results on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. On average, research analysts expect that Standard Lithium Ltd. will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Standard Lithium

Institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new stake in Standard Lithium in the third quarter valued at $1,816,000. Encompass Capital Advisors LLC purchased a new position in shares of Standard Lithium during the fourth quarter worth about $36,000,000. Millennium Capital Advisors LLC purchased a new position in shares of Standard Lithium during the fourth quarter worth about $1,060,000. TD Waterhouse Canada Inc. increased its position in shares of Standard Lithium by 400.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,500 shares of the company’s stock worth $55,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Mustard Seed Financial LLC increased its position in shares of Standard Lithium by 18.2% during the fourth quarter. Mustard Seed Financial LLC now owns 92,253 shares of the company’s stock worth $412,000 after purchasing an additional 14,190 shares in the last quarter. Hedge funds and other institutional investors own 16.70% of the company’s stock.

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.