Investors Buy High Volume of Standard Lithium Call Options (NYSEAMERICAN:SLI)

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was the recipient of unusually large options trading on Thursday. Investors purchased 29,768 call options on the stock. This is an increase of approximately 1,272% compared to the typical volume of 2,169 call options.

Standard Lithium Trading Up 5.3%

Standard Lithium stock opened at $5.39 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -24.50 and a beta of 1.74. The stock has a fifty day simple moving average of $3.35 and a two-hundred day simple moving average of $2.37. Standard Lithium has a 12 month low of $1.08 and a 12 month high of $6.40.

Wall Street Analyst Weigh In

SLI has been the subject of several research reports. Raymond James Financial initiated coverage on Standard Lithium in a research report on Friday, July 11th. They issued an “outperform” rating and a $2.75 target price for the company. Roth Capital raised their price objective on Standard Lithium from $4.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Standard Lithium in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Standard Lithium currently has an average rating of “Buy” and a consensus target price of $4.38.

Institutional Trading of Standard Lithium

Institutional investors and hedge funds have recently modified their holdings of the business. HBK Sorce Advisory LLC bought a new stake in shares of Standard Lithium in the 3rd quarter worth $41,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Standard Lithium in the second quarter worth $27,000. Bank of America Corp DE grew its holdings in shares of Standard Lithium by 64.4% in the second 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 period. WINTON GROUP Ltd bought a new stake in shares of Standard Lithium in the second quarter worth $36,000. Finally, Jump Financial LLC bought a new stake in shares of Standard Lithium in the second quarter worth $43,000. Institutional investors own 16.70% of the company’s stock.

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.