Standard Lithium (NYSEAMERICAN:SLI) Price Target Raised to $7.50 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group raised the price target for Standard Lithium from $5.00 to $7.50, indicating a potential upside of 82.93% from its recent closing price.
• Standard Lithium is currently rated as a "speculative buy" by Canaccord Genuity, while other brokerages like BMO Capital Markets have also given favorable ratings.
• The company's shares have seen significant trading activity, with a current market cap of $795.15 million, and major institutional investors have increased their positions in the stock.

Standard Lithium (NYSEAMERICAN:SLI - Get Free Report) had its price target lifted by equities researchers at Canaccord Genuity Group from $5.00 to $7.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "speculative buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 82.93% from the company's previous close.

Several other brokerages have also weighed in on SLI. BMO Capital Markets reiterated an "outperform" rating on shares of Standard Lithium in a report on Monday, September 8th. Raymond James Financial began coverage on shares of Standard Lithium in a report on Friday, July 11th. They set an "outperform" rating and a $2.75 price objective on the stock. Finally, Roth Capital upped their price objective on shares of Standard Lithium from $4.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $5.42.

Standard Lithium Trading Down 4.9%

SLI stock traded down $0.21 during midday trading on Tuesday, hitting $4.10. The stock had a trading volume of 1,641,546 shares, compared to its average volume of 2,537,858. The firm has a market cap of $795.15 million, a P/E ratio of -18.64 and a beta of 1.74. Standard Lithium has a 1-year low of $1.08 and a 1-year high of $6.40. The business has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $2.43.

Institutional Investors Weigh In On Standard Lithium

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meriwether Wealth & Planning LLC grew its position in Standard Lithium by 5.1% in the 3rd quarter. Meriwether Wealth & Planning LLC now owns 39,751 shares of the company's stock worth $134,000 after purchasing an additional 1,930 shares in the last quarter. Raymond James Financial Inc. grew its position in Standard Lithium by 4.3% in the 2nd quarter. Raymond James Financial Inc. now owns 110,974 shares of the company's stock worth $218,000 after purchasing an additional 4,600 shares in the last quarter. Bank of America Corp DE grew its position in Standard Lithium by 64.4% in the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company's stock worth $30,000 after purchasing an additional 6,040 shares in the last quarter. MBA Advisors LLC grew its position in Standard Lithium by 28.3% in the 2nd quarter. MBA Advisors LLC now owns 29,500 shares of the company's stock worth $58,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Stephens Inc. AR grew its position in Standard Lithium by 3.4% in the 1st quarter. Stephens Inc. AR now owns 247,005 shares of the company's stock worth $314,000 after purchasing an additional 8,150 shares in the last quarter. Institutional investors and hedge funds own 16.70% 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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