Short Interest in Standard Lithium Ltd. (NYSEAMERICAN:SLI) Expands By 44.2%

Standard Lithium Ltd. (NYSEAMERICAN:SLI) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 4,990,000 shares, an increase of 44.2% from the September 30th total of 3,460,000 shares. Approximately 2.8% of the shares of the stock are short sold. 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 shares of the stock are short sold.

Standard Lithium Stock Performance

Standard Lithium stock traded down $0.15 during midday trading on Tuesday, reaching $3.43. 1,415,962 shares of the company’s stock were exchanged, compared to its average volume of 2,633,559. Standard Lithium has a 52 week low of $1.08 and a 52 week high of $6.40. The firm has a market cap of $817.30 million, a price-to-earnings ratio of -15.59 and a beta of 1.74. The stock’s 50-day simple moving average is $3.64 and its 200 day simple moving average is $2.63.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Standard Lithium by 2.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,607,949 shares of the company’s stock worth $3,180,000 after purchasing an additional 37,474 shares during the last quarter. Stanley Laman Group Ltd. bought a new position in Standard Lithium in the 3rd quarter worth approximately $2,909,000. Compagnie Lombard Odier SCmA boosted its holdings in Standard Lithium by 3.7% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 466,700 shares of the company’s stock valued at $915,000 after purchasing an additional 16,700 shares during the period. Jane Street Group LLC boosted its holdings in Standard Lithium by 285.5% in the 2nd quarter. Jane Street Group LLC now owns 349,477 shares of the company’s stock valued at $685,000 after purchasing an additional 258,814 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Standard Lithium in the 1st quarter valued at $435,000. 16.70% of the stock is currently 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.