Standard Lithium (NYSEAMERICAN:SLI) Trading Down 7.1% – What’s Next?

Standard Lithium Ltd. (NYSEAMERICAN:SLI) dropped 7.1% during trading on Wednesday . The stock traded as low as $3.98 and last traded at $4.03. Approximately 621,291 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 2,322,440 shares. The stock had previously closed at $4.34.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLI. Evercore assumed coverage on shares of Standard Lithium in a research report on Wednesday, April 29th. They issued an “outperform” rating and a $4.75 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Standard Lithium in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standard Lithium currently has an average rating of “Buy” and an average target price of $5.13.

Standard Lithium Trading Down 3.7%

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.00 and a beta of 1.77. The company has a fifty day moving average of $3.83 and a two-hundred day moving average of $4.22.

Institutional Trading of Standard Lithium

Several large investors have recently modified their holdings of SLI. Aquatic Capital Management LLC acquired a new position in Standard Lithium in the 3rd quarter valued at $26,000. Bank of America Corp DE lifted its position in Standard Lithium by 64.4% during the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock worth $30,000 after acquiring an additional 6,040 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Standard Lithium during the second quarter valued at about $36,000. Stone House Investment Management LLC boosted its holdings in Standard Lithium by 734.3% during the fourth quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock valued at $37,000 after acquiring an additional 7,343 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Standard Lithium in the second quarter valued at about $43,000. 16.70% of the stock is owned by institutional investors.

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.