Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Up - Here's What Happened

Key Points

• Standard Lithium's stock price gapped up from a previous close of $4.18 to open at $4.40, with 911,775 shares traded.
• Analyst ratings for Standard Lithium include BMO Capital Markets reaffirming an "outperform" rating, while Roth Capital raised their price target from $4.50 to $6.00.
• Institutional investors hold 16.7% of Standard Lithium's stock, with significant recent increases in holdings from several hedge funds.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.18, but opened at $4.40. Standard Lithium shares last traded at $4.19, with a volume of 911,775 shares changing hands.

Analyst Upgrades and Downgrades

SLI has been the subject of several research reports. BMO Capital Markets reiterated an "outperform" rating on shares of Standard Lithium in a research note on Monday, September 8th. 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. Finally, Roth Capital raised their price objective on shares of Standard Lithium from $4.50 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Standard Lithium currently has an average rating of "Buy" and a consensus target price of $4.38.

Standard Lithium Stock Down 0.7%

The company has a market capitalization of $804.85 million, a PE ratio of -18.86 and a beta of 1.74. The firm has a 50-day moving average of $2.98 and a two-hundred day moving average of $2.19.

Hedge Funds Weigh In On Standard Lithium

A number of institutional investors and hedge funds have recently modified their holdings of the company. Compagnie Lombard Odier SCmA raised its holdings in shares of Standard Lithium by 50.0% in the first quarter. Compagnie Lombard Odier SCmA now owns 450,000 shares of the company's stock valued at $574,000 after buying an additional 150,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Standard Lithium by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 117,757 shares of the company's stock worth $150,000 after purchasing an additional 8,340 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Standard Lithium in the 1st quarter valued at about $35,000. Naviter Wealth LLC purchased a new position in shares of Standard Lithium in the 1st quarter valued at about $36,000. Finally, Alps Advisors Inc. lifted its stake in shares of Standard Lithium by 103.6% in the first quarter. Alps Advisors Inc. now owns 316,244 shares of the company's stock valued at $402,000 after purchasing an additional 160,907 shares during the period. Institutional investors and hedge funds own 16.70% of the company's stock.

About Standard Lithium

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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