Standard Lithium (OTCMKTS:SLI) Stock Price Down 1.7%

Standard Lithium Ltd. (OTCMKTS:SLI - Get Free Report)'s stock price dropped 1.7% on Monday . The company traded as low as $1.15 and last traded at $1.16. Approximately 783,777 shares changed hands during trading, a decline of 43% from the average daily volume of 1,363,594 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets assumed coverage on shares of Standard Lithium in a research note on Friday, February 16th. They set an "outperform" rating on the stock.

Standard Lithium Price Performance

The business's 50-day moving average price is $1.28 and its 200 day moving average price is $2.00. The firm has a market capitalization of $200.39 million, a price-to-earnings ratio of -5.27 and a beta of 1.91.

Standard Lithium (OTCMKTS:SLI - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). As a group, sell-side analysts expect that Standard Lithium Ltd. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Standard Lithium

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Standard Lithium by 285.4% in the 4th quarter. Millennium Management LLC now owns 194,630 shares of the company's stock valued at $575,000 after acquiring an additional 144,123 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Standard Lithium during the 4th quarter worth approximately $178,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Standard Lithium during the 1st quarter worth approximately $151,000. Advisory Services Network LLC increased its holdings in shares of Standard Lithium by 76.7% during the 1st quarter. Advisory Services Network LLC now owns 84,141 shares of the company's stock worth $320,000 after acquiring an additional 36,527 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Standard Lithium during the 2nd quarter worth approximately $150,000. Institutional investors and hedge funds own 16.77% of the company's stock.

About Standard Lithium

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.

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