Standard Lithium (NYSEAMERICAN:SLI) Trading Up 5.8% – Still a Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s stock price traded up 5.8% during mid-day trading on Friday . The company traded as high as $5.49 and last traded at $5.47. 1,343,533 shares were traded during mid-day trading, a decline of 53% from the average session volume of 2,884,272 shares. The stock had previously closed at $5.17.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SLI. Canaccord Genuity Group upped their price target 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. BMO Capital Markets reiterated an “outperform” rating on shares of Standard Lithium in a research report on Thursday, October 23rd. Finally, Roth Mkm lowered their price target on shares of Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $5.25.

Standard Lithium Price Performance

The business’s fifty day moving average price is $4.63 and its 200-day moving average price is $3.72. The stock has a market capitalization of $1.31 billion, a PE ratio of -24.77 and a beta of 1.73.

Institutional Trading of Standard Lithium

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Aquatic Capital Management LLC purchased a new position in Standard Lithium in the third quarter worth $26,000. Stone House Investment Management LLC boosted its holdings in shares of Standard Lithium by 734.3% in the 4th quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock worth $37,000 after purchasing an additional 7,343 shares in the last quarter. Burney Co. bought a new position in shares of Standard Lithium during the 4th quarter valued at about $45,000. HBK Sorce Advisory LLC purchased a new position in shares of Standard Lithium during the 3rd quarter valued at about $41,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Standard Lithium during the 3rd quarter valued at about $44,000. 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.