Standard Lithium (NYSEAMERICAN:SLI) Shares Down 4.3% - Here's Why

Key Points

• Standard Lithium's stock declined by 4.3% to close at $3.59, with trading volume down 32% compared to the average.
• Analysts have mixed views with Raymond James setting a price target of $2.75 while Roth Capital raised their target to $6.00, indicating a generally favorable outlook.
• Institutional investors currently own 16.70% of Standard Lithium's shares, with significant increases in holdings reported by firms such as Bank of America and Raymond James.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s stock price traded down 4.3% on Monday . The stock traded as low as $3.55 and last traded at $3.59. 1,364,181 shares traded hands during trading, a decline of 32% from the average session volume of 1,999,439 shares. The stock had previously closed at $3.75.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James Financial assumed coverage on Standard Lithium in a report on Friday, July 11th. They set an "outperform" rating and a $2.75 price objective on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Standard Lithium in a report on Monday, September 8th. Finally, Roth Capital lifted their price objective on Standard Lithium from $4.50 to $6.00 and gave the stock a "buy" rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $4.38.

Standard Lithium Trading Down 8.5%

The company has a 50 day moving average of $2.85 and a 200 day moving average of $2.09. The firm has a market cap of $665.21 million, a price-to-earnings ratio of -15.59 and a beta of 1.71.

Hedge Funds Weigh In On Standard Lithium

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. raised 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 valued at $218,000 after purchasing an additional 4,600 shares during the last quarter. Bank of America Corp DE raised 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 valued at $30,000 after purchasing an additional 6,040 shares during the last quarter. MBA Advisors LLC raised 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 valued at $58,000 after purchasing an additional 6,500 shares during the last quarter. Stephens Inc. AR raised 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 valued at $314,000 after purchasing an additional 8,150 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of 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 acquiring an additional 8,340 shares during the last quarter. 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.

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