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

Key Points

• Shares gapped down before Monday trading — SLI opened at $3.25 vs. the prior close of $3.40, with about 579,632 shares changing hands while the stock has traded back near $3.40.
• BMO reaffirmed an "outperform" and, overall, SLI carries a consensus Buy rating with an average price target of $5.25 from three analysts.
• Standard Lithium focuses on direct lithium extraction (DLE) of brines for battery-grade lithium at its flagship Smackover project in Arkansas (partnered with LANXESS) and has a market cap of roughly $827 million.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $3.40, but opened at $3.25. Standard Lithium shares last traded at $3.40, with a volume of 579,632 shares trading hands.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets restated an "outperform" rating on shares of Standard Lithium in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Standard Lithium presently has a consensus rating of "Buy" and a consensus price target of $5.25.

Standard Lithium Trading Up 0.3%

The company has a market capitalization of $827.30 million, a P/E ratio of -15.50 and a beta of 1.81. The stock has a 50 day moving average price of $4.21 and a 200 day moving average price of $4.27.

Institutional Investors Weigh In On Standard Lithium

A number of institutional investors have recently added to or reduced their stakes in SLI. Aquatic Capital Management LLC acquired a new stake in Standard Lithium in the 3rd quarter valued at approximately $26,000. Bank of America Corp DE increased its position in Standard Lithium by 64.4% during the second 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 during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Standard Lithium during the second quarter worth $36,000. Stone House Investment Management LLC raised its holdings in shares of Standard Lithium by 734.3% in the 4th quarter. Stone House Investment Management LLC now owns 8,343 shares of the company's stock valued at $37,000 after buying an additional 7,343 shares during the period. Finally, HBK Sorce Advisory LLC acquired a new position in Standard Lithium during the third quarter valued at approximately $41,000. 16.70% of the stock is currently owned by institutional investors and hedge funds.

Standard Lithium Company Profile

Standard Lithium NYSEAMERICAN: SLI is a mineral exploration and development company focused on the extraction of lithium from sedimentary brine resources. Utilizing direct lithium extraction (DLE) processes, the company aims to deliver high-purity lithium carbonate and lithium hydroxide suitable for the battery and electric vehicle markets. Standard Lithium's technology is designed to accelerate lithium recovery rates while minimizing environmental impact compared to traditional solar evaporation methods.

The company's flagship project is located in the Smackover Formation of southern Arkansas, in collaboration with chemical producer LANXESS.

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