Standard Lithium (NYSEAMERICAN:SLI) Stock Falls 1.6% – Time to Sell?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s share price traded down 1.6% during trading on Monday. The company traded as low as $1.77 and last traded at $1.83. 3,251,330 shares changed hands during trading, an increase of 90% from the average daily volume of 1,706,757 shares. The stock had previously closed at $1.86.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on shares of Standard Lithium in a research note on Wednesday, September 2nd. They set a “hold” rating and a $2.90 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Standard Lithium currently has a consensus rating of “Moderate Buy” and an average target price of $5.16.

Standard Lithium Stock Performance

The company’s 50-day simple moving average is $2.26 and its 200 day simple moving average is $3.03. The company has a market cap of $462.71 million, a PE ratio of -9.37 and a beta of 1.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Standard Lithium during the second quarter worth approximately $1,149,000. Amundi lifted its stake in Standard Lithium by 64.9% in the first quarter. Amundi now owns 1,779,555 shares of the company’s stock worth $6,068,000 after acquiring an additional 700,555 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Standard Lithium in the fourth quarter worth approximately $36,000,000. Walleye Capital LLC grew its holdings in Standard Lithium by 49.9% during the 1st quarter. Walleye Capital LLC now owns 733,391 shares of the company’s stock worth $2,501,000 after acquiring an additional 244,115 shares in the last quarter. Finally, Themes Management Co LLC acquired a new position in Standard Lithium during the 1st quarter worth approximately $39,000. 16.70% of the stock is owned by institutional investors and hedge funds.

Standard Lithium Company Profile

Standard Lithium Ltd. is a Canadian development-stage company focused on producing battery-grade lithium from brine resources in the United States. Its primary projects are located in southwestern Arkansas and are associated with the Smackover Formation, a region known for lithium-bearing brines.

The company is developing direct lithium extraction (DLE) technology designed to selectively remove lithium from brine before the remaining fluids are reinjected underground. Standard Lithium has operated a demonstration plant in Arkansas and is working to advance commercial-scale production of lithium compounds, including lithium carbonate, for use in electric-vehicle batteries, energy-storage systems, and other applications.

Standard Lithium has historically worked with industrial and energy partners, including LANXESS, to evaluate lithium recovery from brines produced during existing operations in the region.