Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Down 58.3% in September

Key Points

• Short interest in Standard Lithium decreased by 58.3% in September, falling from 8,290,000 shares to 3,460,000 shares, representing approximately 2.0% of the company's shares.
• Standard Lithium's stock has seen a decline of 20.2%, with shares opening at $4.30 and a 52-week range between $1.08 and $6.40.
• Wall Street analysts have a positive outlook, with an average rating of "Buy" and a target price of $4.38 for Standard Lithium stock.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 3,460,000 shares, a drop of 58.3% from the September 15th total of 8,290,000 shares. Approximately 2.0% of the company's shares are sold short. Based on an average trading volume of 2,780,000 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 2,780,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.0% of the company's shares are sold short.

Standard Lithium Stock Down 20.2%

Shares of SLI stock opened at $4.30 on Friday. The firm has a market cap of $833.94 million, a price-to-earnings ratio of -19.55 and a beta of 1.74. The company's 50 day moving average is $3.38 and its 200 day moving average is $2.40. Standard Lithium has a 52-week low of $1.08 and a 52-week high of $6.40.

Wall Street Analysts Forecast Growth

SLI has been the topic of a number of research reports. Raymond James Financial initiated coverage on shares of Standard Lithium in a research report on Friday, July 11th. They set an "outperform" rating and a $2.75 target price on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Standard Lithium in a research report on Monday, September 8th. Finally, Roth Capital raised their target price on shares of Standard Lithium from $4.50 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Standard Lithium has an average rating of "Buy" and an average price target of $4.38.

Hedge Funds Weigh In On Standard Lithium

Several institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Standard Lithium by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 117,757 shares of the company's stock worth $150,000 after purchasing an additional 8,340 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Standard Lithium in the first quarter worth $35,000. Naviter Wealth LLC purchased a new position in Standard Lithium in the first quarter worth $36,000. Alps Advisors Inc. grew its holdings in Standard Lithium by 103.6% in the first quarter. Alps Advisors Inc. now owns 316,244 shares of the company's stock worth $402,000 after purchasing an additional 160,907 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in Standard Lithium by 3.4% in the first quarter. Stephens Inc. AR now owns 247,005 shares of the company's stock worth $314,000 after purchasing an additional 8,150 shares during the last quarter. 16.70% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.