Standard Lithium (NYSEAMERICAN:SLI) Stock Falls 4.7% - What's Next?

Key Points

• Standard Lithium shares fell 4.7% to $1.43, with trading volume down 60% from the average session. The stock remains below its 50-day and 200-day moving averages of $2.02 and $2.77, respectively.
• Jefferies initiated coverage with a “hold” rating and a $2.90 price target. Despite that cautious view, analysts’ consensus is “Moderate Buy,” with a $4.38 target based on three Buy ratings and one Hold rating.
• Institutional investors own 16.7% of the company, with firms including Amundi and Walleye Capital increasing their stakes while Bank of America and BlackRock established new positions. Standard Lithium is developing direct lithium extraction technology and lithium projects in southern Arkansas.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) dropped 4.7% during trading on Friday. The stock traded as low as $1.43 and last traded at $1.43. Approximately 921,964 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,324,458 shares. The stock had previously closed at $1.50.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group began coverage on Standard Lithium in a research note on Wednesday, September 2nd. They issued a "hold" rating and a $2.90 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Standard Lithium currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.38.

Standard Lithium Trading Down 4.7%

The company has a fifty day simple moving average of $2.02 and a 200-day simple moving average of $2.77. The stock has a market cap of $352.90 million, a price-to-earnings ratio of -7.15 and a beta of 2.26.

Institutional Trading of Standard Lithium

Several hedge funds have recently added to or reduced their stakes in SLI. Amundi grew its position 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 stake in Standard Lithium by 49.9% during the first quarter. Walleye Capital LLC now owns 733,391 shares of the company's stock valued at $2,501,000 after acquiring an additional 244,115 shares during the period. Bank of America Corp DE acquired a new position in Standard Lithium in the 2nd quarter valued at approximately $1,595,000. BlackRock Inc. acquired a new position in Standard Lithium in the 2nd quarter valued at approximately $1,149,000. Finally, Stephens Inc. AR lifted its position 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 worth $843,000 after acquiring an additional 89,755 shares during the period. Institutional investors own 16.70% of the company's stock.

About Standard Lithium

Standard Lithium Ltd. is a development-stage lithium company focused on advancing commercial lithium production in the United States. The company's primary assets are located in southern Arkansas, within the Smackover Formation, a region containing lithium-bearing brine resources.

Standard Lithium is developing direct lithium extraction (DLE) technology designed to selectively recover lithium from brine and return the processed brine to the subsurface. The company's planned product is battery-quality lithium carbonate, a key material used in rechargeable batteries for electric vehicles, energy-storage systems and consumer electronics.

The company's projects include its South West Arkansas Project and related development opportunities in the region.

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