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

Key Points

• Standard Lithium's shares gapped down from a closure of $5.39 to an opening at $4.39, with its last traded price at $4.18.
• Analysts have varied views on the stock, with Raymond James issuing an "outperform" rating and a price target of $2.75, while Roth Capital raised its target from $4.50 to $6.00.
• The company has seen increased institutional interest, with total institutional ownership sitting at 16.70% after several firms acquired stakes recently.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $5.39, but opened at $4.39. Standard Lithium shares last traded at $4.18, with a volume of 12,116,612 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on SLI shares. Raymond James Financial started coverage on Standard Lithium in a report on Friday, July 11th. They issued an "outperform" rating and a $2.75 price target for the company. BMO Capital Markets reissued an "outperform" rating on shares of Standard Lithium in a report on Monday, September 8th. Finally, Roth Capital raised their price objective on Standard Lithium from $4.50 to $6.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Three research 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 $4.38.

Standard Lithium Stock Down 25.2%

The stock has a market cap of $781.58 million, a price-to-earnings ratio of -18.32 and a beta of 1.74. The stock has a fifty day moving average of $3.35 and a two-hundred day moving average of $2.37.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Standard Lithium in the second quarter worth about $27,000. Bank of America Corp DE grew its holdings 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 worth $30,000 after buying an additional 6,040 shares in the last quarter. Sowell Financial Services LLC bought a new position in Standard Lithium in the 1st quarter worth approximately $35,000. Naviter Wealth LLC acquired a new stake in Standard Lithium in the first quarter worth approximately $36,000. Finally, WINTON GROUP Ltd acquired a new stake in Standard Lithium in the second quarter worth approximately $36,000. Institutional investors and hedge funds 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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