Standard Lithium (NYSEAMERICAN:SLI) Sees Strong Trading Volume on Analyst Upgrade

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shares saw unusually-strong trading volume on Thursday after Roth Capital raised their price target on the stock from $4.50 to $6.00. Roth Capital currently has a buy rating on the stock. Approximately 3,019,474 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 1,931,658 shares.The stock last traded at $3.54 and had previously closed at $3.46.

SLI has been the topic of a number of other reports. BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research note on Monday, September 8th. Raymond James Financial began coverage on shares of Standard Lithium in a research report on Friday, July 11th. They set an “outperform” rating and a $2.75 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Standard Lithium currently has a consensus rating of “Buy” and an average target price of $4.38.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds have recently added to or reduced their stakes in SLI. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Standard Lithium during the 2nd quarter worth approximately $27,000. Bank of America Corp DE lifted its position in shares of Standard Lithium by 64.4% in the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock worth $30,000 after purchasing an additional 6,040 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Standard Lithium in the 1st quarter worth approximately $35,000. Naviter Wealth LLC acquired a new position in shares of Standard Lithium in the 1st quarter worth approximately $36,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Standard Lithium in the 2nd quarter worth approximately $36,000. 16.70% of the stock is currently owned by institutional investors and hedge funds.

Standard Lithium Trading Up 9.2%

The stock has a market cap of $733.09 million, a price-to-earnings ratio of -17.18 and a beta of 1.71. The stock’s 50-day moving average price is $2.83 and its 200-day moving average price is $2.06.

About Standard Lithium

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