Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 4.2% – Here’s Why

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was down 4.2% during trading on Monday . The stock traded as low as $4.08 and last traded at $4.09. Approximately 394,771 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,637,714 shares. The stock had previously closed at $4.27.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $5.25.

Standard Lithium Trading Down 7.3%

The stock’s fifty day moving average price is $4.67 and its two-hundred day moving average price is $4.20. The stock has a market capitalization of $959.98 million, a P/E ratio of -18.00 and a beta of 1.71.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLI. Van ECK Associates Corp bought a new position in Standard Lithium during the 4th quarter worth approximately $69,461,000. Encompass Capital Advisors LLC bought a new stake in Standard Lithium in the fourth quarter valued at approximately $36,000,000. Invesco Ltd. boosted its stake in shares of Standard Lithium by 15.2% during the third quarter. Invesco Ltd. now owns 2,517,414 shares of the company’s stock valued at $8,484,000 after purchasing an additional 331,995 shares during the period. Burkehill Global Management LP purchased a new stake in shares of Standard Lithium during the fourth quarter valued at approximately $8,940,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Standard Lithium by 2.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,641,489 shares of the company’s stock worth $5,636,000 after purchasing an additional 33,540 shares during the last quarter. 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.