Standard Lithium Ltd. $SLI Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired a new Standard Lithium stake of 579,970 shares valued at approximately $1.6 million, representing 0.24% ownership.
• Other institutional investors, including Amundi, Walleye Capital, BlackRock, and Stephens, also increased or initiated positions; institutions and hedge funds collectively own 16.7% of SLI.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $5.16 price target, although shares recently traded down 2.2% to $1.79.

Bank of America Corp DE purchased a new stake in shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 579,970 shares of the company's stock, valued at approximately $1,595,000. Bank of America Corp DE owned 0.24% of Standard Lithium as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SLI. Encompass Capital Advisors LLC acquired a new position in shares of Standard Lithium in the fourth quarter valued at $36,000,000. Amundi boosted its stake in Standard Lithium by 64.9% during the first quarter. Amundi now owns 1,779,555 shares of the company's stock worth $6,068,000 after buying an additional 700,555 shares in the last quarter. Walleye Capital LLC increased its holdings in Standard Lithium by 49.9% in the 1st quarter. Walleye Capital LLC now owns 733,391 shares of the company's stock valued at $2,501,000 after buying an additional 244,115 shares during the period. BlackRock Inc. bought a new stake in Standard Lithium in the 2nd quarter valued at $1,149,000. Finally, Stephens Inc. AR raised its stake in shares of Standard Lithium by 57.0% in the 1st quarter. Stephens Inc. AR now owns 247,110 shares of the company's stock valued at $843,000 after buying an additional 89,755 shares in the last quarter. Institutional investors and hedge funds own 16.70% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on shares of Standard Lithium in a report on Wednesday, September 2nd. They set a "hold" rating and a $2.90 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.16.

Standard Lithium Trading Down 2.2%

Shares of SLI opened at $1.79 on Friday. The stock has a market cap of $441.74 million, a PE ratio of -8.95 and a beta of 2.26. Standard Lithium Ltd. has a 1 year low of $1.77 and a 1 year high of $6.40. The stock has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $3.00.

About Standard Lithium

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.

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