Zacks Investment Research Upgrades Standard Lithium (NYSEMKT:SLI) to “Hold”

Standard Lithium (NYSEMKT:SLIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Standard Lithium Ltd is a technology and lithium development company. Its flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction. Standard Lithium Ltd is based in Vancouver, Canada. “

SLI stock opened at $6.06 on Wednesday. The company has a market cap of $995.66 million and a P/E ratio of -28.86. The business’s fifty day moving average price is $6.75 and its two-hundred day moving average price is $8.19.

Large investors have recently added to or reduced their stakes in the stock. NewGen Asset Management Ltd bought a new position in Standard Lithium in the 1st quarter worth about $2,200,000. Naviter Wealth LLC bought a new position in Standard Lithium in the 1st quarter worth about $176,000. Simmons Bank boosted its holdings in shares of Standard Lithium by 3.8% in the 1st quarter. Simmons Bank now owns 54,136 shares of the company’s stock worth $476,000 after purchasing an additional 2,000 shares in the last quarter. InterOcean Capital Group LLC purchased a new position in shares of Standard Lithium in the 4th quarter worth about $98,000. Finally, HYA Advisors Inc purchased a new position in shares of Standard Lithium in the 4th quarter worth about $130,000. Institutional investors own 17.95% of the company’s stock.

About Standard Lithium (Get Rating)

Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States. Its flagship project is the Lanxess project with approximately 150,000 acres of brine leases located in south-western Arkansas. The company was formerly known as Patriot Petroleum Corp. and changed its name to Standard Lithium Ltd.

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