Standard Lithium (NYSEAMERICAN:SLI) Hits New 52-Week High - Here's Why

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. The stock had previously closed at $2.84.

Analysts Set New Price Targets

Several analysts have issued reports on SLI shares. BMO Capital Markets raised Standard Lithium to a "strong-buy" rating in a report on Wednesday, August 6th. Raymond James Financial started coverage on Standard Lithium in a report on Friday, July 11th. They set an "outperform" rating and a $2.75 price target for the company.

Standard Lithium Stock Up 2.4%

The stock has a market cap of $570.18 million, a P/E ratio of -13.36 and a beta of 1.69. The business has a 50 day moving average price of $2.35 and a 200 day moving average price of $1.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Standard Lithium during the 2nd quarter valued at $27,000. 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. Sowell Financial Services LLC bought a new stake in Standard Lithium during the 1st quarter valued at $35,000. Naviter Wealth LLC bought a new stake in Standard Lithium during the 1st quarter valued at $36,000. Finally, WINTON GROUP Ltd bought a new stake in Standard Lithium during the 2nd quarter valued at $36,000. Institutional investors own 16.70% 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.