Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s share price dropped 6.3% on Monday . The stock traded as low as $2.57 and last traded at $2.67. Approximately 4,668,764 shares were traded during mid-day trading, an increase of 149% from the average daily volume of 1,875,254 shares. The stock had previously closed at $2.85.
Analysts Set New Price Targets
Separately, Raymond James Financial initiated coverage on Standard Lithium in a research note on Friday, July 11th. They issued an "outperform" rating and a $2.75 price target for the company.
Check Out Our Latest Report on SLI
Standard Lithium Stock Performance
The company has a 50 day moving average of $1.91 and a two-hundred day moving average of $1.60. The stock has a market cap of $506.18 million, a PE ratio of -11.86 and a beta of 1.67.
Institutional Investors Weigh In On Standard Lithium
Several large investors have recently bought and sold shares of SLI. Uniting Wealth Partners LLC acquired a new position in Standard Lithium in the fourth quarter valued at approximately $31,000. Envestnet Asset Management Inc. acquired a new position in Standard Lithium in the fourth quarter valued at approximately $37,000. Sowell Financial Services LLC acquired a new position in Standard Lithium in the first quarter valued at approximately $35,000. Naviter Wealth LLC acquired a new position in Standard Lithium in the first quarter valued at approximately $36,000. Finally, MBA Advisors LLC lifted its holdings in Standard Lithium by 28.3% in the second quarter. MBA Advisors LLC now owns 29,500 shares of the company's stock valued at $58,000 after acquiring an additional 6,500 shares during the last quarter. 16.77% of the stock is currently owned by hedge funds and other institutional investors.
Standard Lithium Company Profile
(
Get Free Report)
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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