Standard Lithium (NYSEAMERICAN:SLI) Trading Down 5.2% – What’s Next?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s share price dropped 5.2% during mid-day trading on Friday . The company traded as low as $4.57 and last traded at $4.58. Approximately 450,655 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,831,793 shares. The stock had previously closed at $4.83.

Wall Street Analyst Weigh In

SLI has been the subject of several research reports. Canaccord Genuity Group raised their price objective on shares of Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research report on Tuesday, October 21st. Roth Capital decreased their price target on shares of Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Standard Lithium has a consensus rating of “Buy” and an average price target of $5.25.

Standard Lithium Price Performance

The stock’s 50 day moving average is $4.15 and its two-hundred day moving average is $3.33. The firm has a market capitalization of $1.08 billion, a P/E ratio of -20.68 and a beta of 1.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLI. Tudor Investment Corp ET AL bought a new stake in Standard Lithium in the third quarter valued at about $1,816,000. XTX Topco Ltd grew its position in shares of Standard Lithium by 72.0% during the 3rd quarter. XTX Topco Ltd now owns 263,510 shares of the company’s stock worth $888,000 after buying an additional 110,280 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Standard Lithium during the 3rd quarter worth about $317,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Standard Lithium by 12.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 102,990 shares of the company’s stock valued at $347,000 after acquiring an additional 11,190 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Standard Lithium by 487.3% in the 3rd quarter. Millennium Management LLC now owns 313,556 shares of the company’s stock valued at $1,057,000 after acquiring an additional 260,169 shares during the period. 16.70% of the stock is currently owned by institutional investors.

Standard Lithium Company Profile

Standard Lithium (NYSEAMERICAN: SLI) is a mineral exploration and development company focused on the extraction of lithium from sedimentary brine resources. Utilizing direct lithium extraction (DLE) processes, the company aims to deliver high-purity lithium carbonate and lithium hydroxide suitable for the battery and electric vehicle markets. Standard Lithium’s technology is designed to accelerate lithium recovery rates while minimizing environmental impact compared to traditional solar evaporation methods.

The company’s flagship project is located in the Smackover Formation of southern Arkansas, in collaboration with chemical producer LANXESS.