Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Up 44.2% in October

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 4,990,000 shares, a growth of 44.2% from the September 30th total of 3,460,000 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily volume of 4,070,000 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 4,070,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.8% of the company’s stock are sold short.

Standard Lithium Price Performance

Shares of NYSEAMERICAN SLI opened at $3.24 on Wednesday. The stock has a fifty day moving average price of $3.65 and a 200 day moving average price of $2.64. Standard Lithium has a 1-year low of $1.08 and a 1-year high of $6.40. The company has a market cap of $772.03 million, a PE ratio of -14.73 and a beta of 1.74.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLI. Raymond James Financial began coverage on Standard Lithium in a research note on Friday, July 11th. They issued an “outperform” rating and a $2.75 price objective for the company. Canaccord Genuity Group boosted their price objective on Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research note on Tuesday, October 21st. BMO Capital Markets reiterated an “outperform” rating on shares of Standard Lithium in a research note on Thursday, October 23rd. Finally, Roth Capital boosted 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. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $5.42.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds have recently modified their holdings of SLI. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Standard Lithium during the second quarter worth $27,000. Bank of America Corp DE lifted its holdings in shares of Standard Lithium by 64.4% during the second 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. WINTON GROUP Ltd acquired a new stake in shares of Standard Lithium during the second quarter worth $36,000. HBK Sorce Advisory LLC acquired a new stake in shares of Standard Lithium during the third quarter worth $41,000. Finally, Jump Financial LLC acquired a new stake in shares of Standard Lithium during the second quarter worth $43,000. 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.