Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Up – Here’s Why

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.13, but opened at $5.35. Standard Lithium shares last traded at $5.31, with a volume of 881,753 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on SLI. Canaccord Genuity Group lifted their price target on shares of Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research report on Tuesday, October 21st. Roth Capital reduced their target price on Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research report on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.25.

Standard Lithium Trading Up 2.7%

The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -23.95 and a beta of 1.73. The company’s fifty day moving average is $4.34 and its two-hundred day moving average is $3.57.

Hedge Funds Weigh In On Standard Lithium

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Standard Lithium by 40.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 165,783 shares of the company’s stock worth $325,000 after buying an additional 48,026 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Standard Lithium by 3.7% during the second quarter. Compagnie Lombard Odier SCmA now owns 466,700 shares of the company’s stock worth $915,000 after acquiring an additional 16,700 shares during the period. MBA Advisors LLC raised its stake in shares of Standard Lithium by 28.3% in the second quarter. MBA Advisors LLC now owns 29,500 shares of the company’s stock valued at $58,000 after acquiring an additional 6,500 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Standard Lithium in the second quarter valued at $27,000. Finally, Stephens Inc. AR boosted its holdings in Standard Lithium by 10.6% in the second quarter. Stephens Inc. AR now owns 273,275 shares of the company’s stock valued at $536,000 after purchasing an additional 26,270 shares during the period. 16.70% of the stock is owned by institutional investors and hedge funds.

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.