Standard Lithium (NYSEAMERICAN:SLI) Upgraded to Strong-Buy at BMO Capital Markets

Key Points

• BMO Capital Markets has upgraded Standard Lithium (NYSEAMERICAN:SLI) to a "strong-buy" rating, signaling increased confidence in the company's future performance.
• Raymond James Financial also initiated coverage on Standard Lithium, issuing an "outperform" rating with a price target of $2.75.
• Standard Lithium's stock has experienced significant fluctuations, with a 52-week low of $1.08 and a high of $2.95, reflecting its volatile market behavior.

Standard Lithium (NYSEAMERICAN:SLI - Get Free Report) was upgraded by equities research analysts at BMO Capital Markets to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Separately, Raymond James Financial assumed coverage on Standard Lithium in a report on Friday, July 11th. They set an "outperform" rating and a $2.75 price objective on the stock.

Standard Lithium Price Performance

Shares of NYSEAMERICAN:SLI traded down $0.03 during mid-day trading on Wednesday, reaching $2.81. 3,822,634 shares of the company traded hands, compared to its average volume of 2,083,611. The company's 50 day moving average price is $2.25 and its 200-day moving average price is $1.71. The firm has a market cap of $544.97 million, a PE ratio of -12.77 and a beta of 1.69. Standard Lithium has a 52 week low of $1.08 and a 52 week high of $3.05.

Institutional Trading of Standard Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of SLI. Koch Inc. purchased a new position in Standard Lithium during the fourth quarter valued at approximately $19,681,000. Renaissance Technologies LLC purchased a new position in Standard Lithium during the fourth quarter valued at approximately $964,000. Concentric Capital Strategies LP acquired a new stake in Standard Lithium in the fourth quarter valued at approximately $752,000. Compagnie Lombard Odier SCmA increased its position in shares of Standard Lithium by 3.7% in the second quarter. Compagnie Lombard Odier SCmA now owns 466,700 shares of the company's stock valued at $915,000 after buying an additional 16,700 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Standard Lithium in the first quarter valued at approximately $435,000. 16.70% of the stock is 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.