Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Down - Should You Sell?

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $2.78, but opened at $2.64. Standard Lithium shares last traded at $2.66, with a volume of 1,343,818 shares traded.

Analysts Set New Price Targets

Separately, Raymond James Financial initiated coverage on Standard Lithium in a report on Friday, July 11th. They set an "outperform" rating and a $2.75 target price for the company.

Standard Lithium Trading Up 3.4%

The company has a market cap of $523.64 million, a P/E ratio of -12.27 and a beta of 1.67. The company's fifty day moving average is $1.93 and its 200 day moving average is $1.61.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. MBA Advisors LLC grew its stake in shares of Standard Lithium by 28.3% in the second quarter. MBA Advisors LLC now owns 29,500 shares of the company's stock worth $58,000 after acquiring an additional 6,500 shares during the period. Stephens Inc. AR grew its position in Standard Lithium by 3.4% during the first quarter. Stephens Inc. AR now owns 247,005 shares of the company's stock valued at $314,000 after buying an additional 8,150 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Standard Lithium by 7.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 117,757 shares of the company's stock valued at $150,000 after buying an additional 8,340 shares during the period. LPL Financial LLC lifted its holdings in Standard Lithium by 11.2% during the fourth 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 in the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its holdings in Standard Lithium by 3.7% during the second quarter. Compagnie Lombard Odier SCmA now owns 466,700 shares of the company's stock valued at $915,000 after purchasing an additional 16,700 shares in 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.