Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Down – Here’s Why

Standard Lithium Ltd. (NYSEAMERICAN:SLI) gapped down prior to trading on Friday . The stock had previously closed at $5.39, but opened at $4.39. Standard Lithium shares last traded at $4.18, with a volume of 12,116,612 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Roth Capital lifted their price objective on Standard Lithium from $4.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. BMO Capital Markets reissued an “outperform” rating on shares of Standard Lithium in a research note on Monday, September 8th. Finally, Raymond James Financial started coverage on Standard Lithium in a research note on Friday, July 11th. They set an “outperform” rating and a $2.75 target price for the company. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $4.38.

Standard Lithium Stock Performance

The stock has a market capitalization of $833.94 million, a price-to-earnings ratio of -19.55 and a beta of 1.74. The company has a 50 day moving average of $3.38 and a 200 day moving average of $2.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Standard Lithium during the 2nd quarter worth about $27,000. Bank of America Corp DE boosted its position in shares of 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 in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Standard Lithium during the 1st quarter worth about $35,000. Naviter Wealth LLC acquired a new position in shares of Standard Lithium during the 1st quarter worth about $36,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Standard Lithium during the 2nd quarter worth about $36,000. 16.70% of the stock is owned by institutional investors and hedge funds.

Standard Lithium Company Profile

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.