Standard Lithium (NYSEAMERICAN:SLI) Shares Down 6.3% - Here's What Happened

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) fell 6.3% on Monday . The stock traded as low as $2.57 and last traded at $2.67. 4,668,764 shares traded hands during trading, an increase of 149% from the average session volume of 1,875,254 shares. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

Separately, Raymond James Financial initiated coverage on shares of Standard Lithium in a report on Friday. They issued an "outperform" rating and a $2.75 price target for the company.

Standard Lithium Trading Down 2.5%

The business's fifty day moving average is $1.83 and its 200 day moving average is $1.58. The firm has a market capitalization of $539.15 million, a P/E ratio of -12.64 and a beta of 1.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLI. Raymond James Financial Inc. purchased a new position in Standard Lithium during the fourth quarter valued at approximately $168,000. Commonwealth Equity Services LLC increased its stake in shares of Standard Lithium by 104.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 128,041 shares of the company's stock worth $187,000 after purchasing an additional 65,291 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Standard Lithium in the 4th quarter valued at $139,000. Koch Inc. acquired a new stake in shares of Standard Lithium in the 4th quarter valued at $29,951,000. Finally, LPL Financial LLC lifted its stake in shares of Standard Lithium by 11.2% in the 4th quarter. LPL Financial LLC now owns 85,261 shares of the company's stock valued at $124,000 after purchasing an additional 8,584 shares during the last quarter. 16.77% of the stock is owned by hedge funds and other institutional investors.

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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