Raymond James Financial Initiates Coverage on Standard Lithium (NYSEAMERICAN:SLI)

Raymond James Financial initiated coverage on shares of Standard Lithium (NYSEAMERICAN:SLI - Free Report) in a research note released on Friday morning, MarketBeat.com reports. The firm issued an outperform rating and a $2.75 price objective on the stock.

Standard Lithium Stock Up 4.4%

NYSEAMERICAN:SLI traded up $0.12 during trading hours on Friday, reaching $2.85. The company had a trading volume of 4,417,576 shares, compared to its average volume of 1,901,966. The firm has a market cap of $552.73 million, a price-to-earnings ratio of -12.95 and a beta of 1.67. The business's 50-day simple moving average is $1.83 and its two-hundred day simple moving average is $1.59. Standard Lithium has a twelve month low of $1.07 and a twelve month high of $2.93.

Institutional Trading of Standard Lithium

Hedge funds have recently added to or reduced their stakes in the stock. Uniting Wealth Partners LLC bought a new stake in shares of Standard Lithium in the fourth quarter valued at approximately $31,000. Sowell Financial Services LLC bought a new stake in shares of Standard Lithium in the first quarter valued at approximately $35,000. Naviter Wealth LLC bought a new stake in shares of Standard Lithium in the first quarter valued at approximately $36,000. Envestnet Asset Management Inc. bought a new stake in Standard Lithium during the 4th quarter worth approximately $37,000. Finally, Hartree Partners LP bought a new stake in Standard Lithium during the 4th quarter worth approximately $73,000. Institutional investors own 16.77% of the company's stock.

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.