Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Up – Time to Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.37, but opened at $2.61. Standard Lithium shares last traded at $2.58, with a volume of 879,214 shares trading hands.

Analyst Ratings Changes

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

Standard Lithium Trading Up 7.2%

The firm has a market capitalization of $625.88 million, a PE ratio of -11.54 and a beta of 1.83. The business has a 50 day moving average price of $2.79 and a 200-day moving average price of $3.62.

Standard Lithium (NYSEAMERICAN:SLI) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. On average, equities research analysts forecast that Standard Lithium Ltd. will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLI. Apella Capital LLC boosted its position in shares of Standard Lithium by 39.1% in the 1st quarter. Apella Capital LLC now owns 13,909 shares of the company’s stock worth $47,000 after buying an additional 3,909 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Standard Lithium by 44.2% during the 4th quarter. Sound Income Strategies LLC now owns 13,700 shares of the company’s stock valued at $61,000 after acquiring an additional 4,200 shares in the last quarter. Cetera Investment Advisers raised its position in Standard Lithium by 8.2% during the fourth quarter. Cetera Investment Advisers now owns 57,506 shares of the company’s stock worth $257,000 after acquiring an additional 4,359 shares during the last quarter. Raymond James Financial Inc. raised its position in Standard Lithium by 4.3% during the second quarter. Raymond James Financial Inc. now owns 110,974 shares of the company’s stock worth $218,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Standard Lithium by 5.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 108,455 shares of the company’s stock valued at $485,000 after purchasing an additional 5,465 shares in the last quarter. 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.