Standard Lithium (NYSEAMERICAN:SLI) Shares Up 2.3% – Still a Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shares traded up 2.3% on Monday . The company traded as high as $4.53 and last traded at $4.48. 1,910,442 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 2,854,783 shares. The stock had previously closed at $4.38.

Analysts Set New Price Targets

SLI has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Standard Lithium in a research note on Wednesday, January 28th. Roth Mkm dropped their price objective on Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Standard Lithium currently has an average rating of “Buy” and a consensus target price of $5.25.

Standard Lithium Stock Up 2.3%

The business has a 50-day simple moving average of $4.75 and a 200-day simple moving average of $4.04. The stock has a market cap of $1.08 billion, a P/E ratio of -20.36 and a beta of 1.73.

Hedge Funds Weigh In On Standard Lithium

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its holdings in Standard Lithium by 32.2% in the 4th quarter. Virtu Financial LLC now owns 49,086 shares of the company’s stock valued at $219,000 after acquiring an additional 11,958 shares in the last quarter. TMB Capital Partners LLC acquired a new position in shares of Standard Lithium in the fourth quarter valued at $254,000. Mercer Global Advisors Inc. ADV lifted its position in Standard Lithium by 5.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 108,455 shares of the company’s stock worth $485,000 after purchasing an additional 5,465 shares during the period. Empowered Funds LLC acquired a new stake in Standard Lithium during the fourth quarter worth $125,000. Finally, SummitTX Capital L.P. acquired a new stake in Standard Lithium during the fourth quarter worth $224,000. 16.70% of the stock is currently owned by institutional investors.

About Standard Lithium

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.