Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 4% – What’s Next?

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) traded down 4% 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

A number of analysts have recently weighed in on the company. Canaccord Genuity Group increased 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. Roth Capital cut their price target on shares of 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 restated an “outperform” rating on shares of Standard Lithium in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $5.25.

Standard Lithium Stock Performance

The company has a market capitalization of $1.19 billion, a PE ratio of -22.59 and a beta of 1.73. The business’s 50-day moving average is $4.29 and its 200-day moving average is $3.51.

Hedge Funds Weigh In On Standard Lithium

A number of hedge funds have recently bought and sold shares of SLI. JPMorgan Chase & Co. purchased a new stake in shares of Standard Lithium during the 3rd quarter valued at about $109,000. Tudor Investment Corp ET AL bought a new stake in shares of Standard Lithium during the 3rd quarter valued at about $1,816,000. XTX Topco Ltd increased 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 valued at $888,000 after purchasing an additional 110,280 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Standard Lithium in the third quarter worth approximately $317,000. Finally, Mercer Global Advisors Inc. ADV grew its position in Standard Lithium by 12.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 102,990 shares of the company’s stock valued at $347,000 after buying an additional 11,190 shares during the period. Hedge funds and other institutional investors 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.