Standard Lithium (NYSEAMERICAN:SLI) Trading Up 8.8% – Time to Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI) traded up 8.8% during mid-day trading on Friday . The stock traded as high as $2.49 and last traded at $2.47. Approximately 1,503,745 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 2,083,412 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

Separately, Evercore assumed coverage on shares of Standard Lithium in a research report on Wednesday, April 29th. They set 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 price target of $5.92.

Standard Lithium Stock Up 9.3%

The stock has a market capitalization of $611.10 million, a PE ratio of -12.40 and a beta of 1.83. The company has a 50-day moving average of $2.53 and a 200 day moving average of $3.44.

Institutional Investors Weigh In On Standard Lithium

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in shares of Standard Lithium in the second quarter valued at about $1,595,000. Jones Financial Companies Lllp boosted its position in Standard Lithium by 23.3% during the second quarter. Jones Financial Companies Lllp now owns 27,244 shares of the company’s stock worth $77,000 after acquiring an additional 5,157 shares during the last quarter. Strategic Wealth Partners Ltd. grew its stake in Standard Lithium by 26.3% during the 2nd quarter. Strategic Wealth Partners Ltd. now owns 24,094 shares of the company’s stock valued at $66,000 after acquiring an additional 5,020 shares in the last quarter. BlackRock Inc. purchased a new stake in Standard Lithium during the 2nd quarter valued at about $1,149,000. Finally, Uniting Wealth Partners LLC purchased a new stake in Standard Lithium during the 2nd quarter valued at about $55,000. 16.70% of the stock is currently owned by institutional investors and hedge funds.

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.