Standard Lithium (NYSEAMERICAN:SLI) Trading Down 4.9% - Should You Sell?

Key Points

• Standard Lithium's shares dropped 4.9% during mid-day trading, closing at $2.92, with trading volume down 55% from the average.
• Analysts maintain a positive outlook for the company, with a current average rating of "Buy" and a target price of $3.58.
• Several institutional investors increased their stakes in Standard Lithium, indicating significant interest from hedge funds and increasing institutional ownership to 16.70%.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s stock price traded down 4.9% on Tuesday . The company traded as low as $2.91 and last traded at $2.92. 834,369 shares changed hands during trading, a decline of 55% from the average session volume of 1,848,014 shares. The stock had previously closed at $3.07.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Standard Lithium in a report on Monday, September 8th. Raymond James Financial assumed coverage on shares of Standard Lithium in a report on Friday, July 11th. They set an "outperform" rating and a $2.75 target price for the company. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $3.58.

Standard Lithium Stock Performance

The stock has a market cap of $591.52 million, a price-to-earnings ratio of -13.86 and a beta of 1.71. The business's 50 day moving average is $2.78 and its 200 day moving average is $1.99.

Institutional Investors Weigh In On Standard Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Koch Inc. bought a new position in shares of Standard Lithium during the 4th quarter valued at $19,681,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Standard Lithium by 2.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,607,949 shares of the company's stock worth $3,180,000 after purchasing an additional 37,474 shares during the last quarter. Compagnie Lombard Odier SCmA grew its position in Standard Lithium by 3.7% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 466,700 shares of the company's stock worth $915,000 after purchasing an additional 16,700 shares during the last quarter. Jane Street Group LLC grew its position in Standard Lithium by 285.5% in the 2nd quarter. Jane Street Group LLC now owns 349,477 shares of the company's stock worth $685,000 after purchasing an additional 258,814 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Standard Lithium in the 1st quarter worth $435,000. 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.