Standard Lithium (NYSEAMERICAN:SLI) Sets New 1-Year High - Still a Buy?

Key Points

• Standard Lithium Ltd. reached a new 52-week high of $3.05 during Monday trading, reflecting an increase from its previous close of $2.84.
• Wall Street analysts are optimistic about the company, with BMO Capital Markets upgrading the stock to a "strong-buy" rating.
• Institutional investors own 16.70% of Standard Lithium, with several new positions opened and existing holdings increased over recent quarters.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $3.05 and last traded at $3.05, with a volume of 240734 shares changing hands. The stock had previously closed at $2.84.

Analysts Set New Price Targets

A number of analysts have recently commented on SLI shares. BMO Capital Markets upgraded Standard Lithium to a "strong-buy" rating in a research report on Wednesday, August 6th. Raymond James Financial initiated coverage on shares of Standard Lithium in a research note on Friday, July 11th. They issued an "outperform" rating and a $2.75 price target on the stock.

Standard Lithium Price Performance

The business's 50 day moving average price is $2.30 and its 200 day moving average price is $1.73. The firm has a market cap of $539.15 million, a PE ratio of -12.64 and a beta of 1.69.

Hedge Funds Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MBA Advisors LLC boosted its position in shares of Standard Lithium by 28.3% during the 2nd quarter. MBA Advisors LLC now owns 29,500 shares of the company's stock valued at $58,000 after acquiring an additional 6,500 shares during the last quarter. Stephens Inc. AR increased its position in Standard Lithium by 3.4% during 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. Wealth Enhancement Advisory Services LLC raised its stake in Standard Lithium by 7.6% during 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 period. LPL Financial LLC raised its stake in Standard Lithium by 11.2% during the fourth quarter. LPL Financial LLC now owns 85,261 shares of the company's stock worth $124,000 after purchasing an additional 8,584 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Standard Lithium in the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors 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.