Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Up 64.1% in July

Key Points

• Standard Lithium’s short interest surged 64.1% in July to 5.08 million shares, representing 2.1% of shares outstanding and 2.9 days to cover based on average trading volume.
• Analysts remain bullish: four analysts rate the stock a Buy, with an average price target of $5.92; Evercore initiated coverage with an Outperform rating and a $4.75 target.
• The stock recently traded at $2.29, below its 50-day and 200-day moving averages, while institutional investors own 16.7% of the company.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 5,082,241 shares, a growth of 64.1% from the July 15th total of 3,097,815 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,734,932 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

Separately, Evercore began coverage on shares of Standard Lithium in a research report on Wednesday, April 29th. They set an "outperform" rating and a $4.75 price target on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $5.92.

Institutional Investors Weigh In On Standard Lithium

Large investors have recently modified their holdings of the stock. Aquatic Capital Management LLC bought a new position in Standard Lithium in the third quarter worth about $26,000. State of Wyoming bought a new stake in Standard Lithium during the 2nd quarter valued at approximately $30,000. Bank of America Corp DE boosted its position in Standard Lithium by 64.4% during the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company's stock valued at $30,000 after acquiring an additional 6,040 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Standard Lithium during the 2nd quarter worth approximately $36,000. Finally, Themes Management Co LLC purchased a new position in shares of Standard Lithium during the 1st quarter worth approximately $39,000. Institutional investors own 16.70% of the company's stock.

Standard Lithium Stock Performance

Standard Lithium stock traded down $0.09 during mid-day trading on Monday, hitting $2.29. The company's stock had a trading volume of 1,076,954 shares, compared to its average volume of 1,667,834. The business has a 50 day moving average price of $2.62 and a 200-day moving average price of $3.50. Standard Lithium has a 12 month low of $1.91 and a 12 month high of $6.40.

Standard Lithium Company Profile

Standard Lithium NYSEAMERICAN: SLI is a mineral exploration and development company focused on the extraction of lithium from sedimentary brine resources. Utilizing direct lithium extraction (DLE) processes, the company aims to deliver high-purity lithium carbonate and lithium hydroxide suitable for the battery and electric vehicle markets. Standard Lithium's technology is designed to accelerate lithium recovery rates while minimizing environmental impact compared to traditional solar evaporation methods.

The company's flagship project is located in the Smackover Formation of southern Arkansas, in collaboration with chemical producer LANXESS.

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