Standard Lithium (NYSEAMERICAN:SLI) Sees Strong Trading Volume After Analyst Upgrade

Key Points

• Standard Lithium's shares experienced a surge in trading volume after Roth Capital upgraded the price target from $4.50 to $6.00, resulting in approximately 3 million shares traded, a 56% increase from the previous session.
• Multiple analysts, including BMO Capital Markets and Raymond James Financial, have rated Standard Lithium as a strong buy, with a consensus target price of $4.38.
• Institutional investors' holdings in Standard Lithium increased significantly, with some firms like Bank of America raising their stake by 64.4% in the second quarter.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) shares saw unusually-strong trading volume on Thursday after Roth Capital raised their price target on the stock from $4.50 to $6.00. Roth Capital currently has a buy rating on the stock. Approximately 3,019,474 shares changed hands during trading, an increase of 56% from the previous session's volume of 1,931,658 shares.The stock last traded at $3.54 and had previously closed at $3.46.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets reissued an "outperform" rating on shares of Standard Lithium in a report on Monday, September 8th. Raymond James Financial assumed coverage on Standard Lithium in a research note on Friday, July 11th. They set an "outperform" rating and a $2.75 target price on the stock. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $4.38.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SLI. Raymond James Financial Inc. increased its position in Standard Lithium by 4.3% in the second quarter. Raymond James Financial Inc. now owns 110,974 shares of the company's stock worth $218,000 after buying an additional 4,600 shares in the last quarter. Bank of America Corp DE grew its holdings 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 buying an additional 6,040 shares in the last quarter. MBA Advisors LLC grew its holdings in 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 buying an additional 6,500 shares in the last quarter. Stephens Inc. AR grew its holdings in Standard Lithium by 3.4% during the 1st quarter. Stephens Inc. AR now owns 247,005 shares of the company's stock valued at $314,000 after buying an additional 8,150 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Standard Lithium by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 117,757 shares of the company's stock valued at $150,000 after buying an additional 8,340 shares in the last quarter. Institutional investors own 16.70% of the company's stock.

Standard Lithium Stock Performance

The firm has a market cap of $674.91 million, a PE ratio of -15.82 and a beta of 1.71. The firm has a fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $2.04.

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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