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

Key Points

• Standard Lithium shares gapped up from $2.88 to $3.09 before last trading at $3.30, with a trading volume of over 1.7 million shares.
• Analyst ratings remain positive, with an average rating of "Buy" and a consensus price target of $3.58, following reports from BMO Capital Markets and Raymond James Financial.
• Institutional investors have increased their stakes, with notable purchases from firms like Jane Street Group LLC, which raised its position by 285.5% in the second quarter.

Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $2.88, but opened at $3.09. Standard Lithium shares last traded at $3.30, with a volume of 1,713,688 shares.

Analysts Set New Price Targets

SLI has been the topic of several research analyst reports. BMO Capital Markets reissued an "outperform" rating on shares of Standard Lithium in a research note on Monday, September 8th. Raymond James Financial assumed coverage on shares of Standard Lithium in a research report on Friday, July 11th. They set an "outperform" rating and a $2.75 price objective for the company. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $3.58.

Standard Lithium Price Performance

The firm has a market capitalization of $640.00 million, a price-to-earnings ratio of -15.00 and a beta of 1.71. The firm's fifty day moving average is $2.79 and its 200 day moving average is $2.02.

Institutional Trading of Standard Lithium

A number of institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Standard Lithium by 2.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,607,949 shares of the company's stock valued at $3,180,000 after acquiring an additional 37,474 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in shares of Standard Lithium by 3.7% in 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 during the period. Jane Street Group LLC raised its position in shares of Standard Lithium by 285.5% in the second quarter. Jane Street Group LLC now owns 349,477 shares of the company's stock valued at $685,000 after purchasing an additional 258,814 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Standard Lithium in the first quarter valued at approximately $435,000. Finally, Alps Advisors Inc. raised its position 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. 16.70% of the stock is currently owned by institutional investors and hedge funds.

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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