Shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $2.39, but opened at $2.50. Standard Lithium shares last traded at $2.61, with a volume of 992,413 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Raymond James Financial initiated coverage on Standard Lithium in a research note on Friday. They set an "outperform" rating and a $2.75 target price on the stock.
Check Out Our Latest Research Report on Standard Lithium
Standard Lithium Stock Up 4.4%
The business has a 50 day moving average of $1.83 and a 200 day moving average of $1.58. The company has a market capitalization of $552.73 million, a P/E ratio of -12.95 and a beta of 1.67.
Institutional Investors Weigh In On Standard Lithium
Institutional investors and hedge funds have recently modified their holdings of the business. Koch Inc. purchased a new position in Standard Lithium during the 4th quarter worth $29,951,000. Renaissance Technologies LLC purchased a new position in shares of Standard Lithium in the 4th quarter valued at $964,000. Concentric Capital Strategies LP purchased a new position in shares of Standard Lithium in the 4th quarter valued at $752,000. Compagnie Lombard Odier SCmA grew its stake in Standard Lithium by 50.0% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 450,000 shares of the company's stock worth $574,000 after buying an additional 150,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Standard Lithium during the 1st quarter worth $435,000. 16.77% of the stock is owned by institutional investors.
Standard Lithium Company Profile
(
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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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