Standard Lithium (NYSEAMERICAN:SLI) Shares Down 4% – Time to Sell?

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) fell 4% during mid-day trading on Friday . The stock traded as low as $5.01 and last traded at $5.01. 734,467 shares were traded during trading, a decline of 70% from the average session volume of 2,479,744 shares. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLI. Canaccord Genuity Group boosted 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 cut their price target on Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Standard Lithium in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standard Lithium has a consensus rating of “Buy” and an average price target of $5.25.

Standard Lithium Trading Down 4.8%

The firm’s 50 day simple moving average is $4.31 and its 200-day simple moving average is $3.54. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -22.59 and a beta of 1.73.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Stanley Laman Group Ltd. bought a new position in shares of Standard Lithium in the third quarter valued at $2,909,000. Wealth Enhancement Advisory Services LLC lifted its stake in Standard Lithium by 40.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 165,783 shares of the company’s stock valued at $325,000 after acquiring an additional 48,026 shares during the last quarter. Simmons Bank lifted its stake in Standard Lithium by 40.3% in the second quarter. Simmons Bank now owns 93,236 shares of the company’s stock valued at $183,000 after acquiring an additional 26,760 shares during the last quarter. MBA Advisors LLC grew its position in shares of Standard Lithium by 28.3% in the 2nd quarter. MBA Advisors LLC now owns 29,500 shares of the company’s stock valued at $58,000 after acquiring an additional 6,500 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Standard Lithium by 10.6% during the 2nd quarter. Stephens Inc. AR now owns 273,275 shares of the company’s stock worth $536,000 after purchasing an additional 26,270 shares during the last quarter. Institutional investors and hedge funds own 16.70% of the company’s stock.

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.