Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 6% - Time to Sell?

Key Points

• Standard Lithium's stock price fell by 6% during trading, reaching a low of $2.64, with approximately 2.2 million shares traded.
• Analysts have recently updated the stock's ratings, with BMO Capital Markets labeling it a "strong-buy" and Raymond James setting an "outperform" rating with a price target of $2.75.
• Several hedge funds have increased their stakes in Standard Lithium, indicating strong institutional interest, with 16.70% of the stock now owned by institutional investors.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s share price fell 6% during trading on Tuesday . The company traded as low as $2.64 and last traded at $2.64. 2,191,796 shares were traded during trading, an increase of 15% from the average session volume of 1,900,105 shares. The stock had previously closed at $2.81.

Analyst Ratings Changes

SLI has been the topic of a number of analyst reports. Raymond James Financial assumed coverage on Standard Lithium in a research report on Friday, July 11th. They issued an "outperform" rating and a $2.75 price target on the stock. BMO Capital Markets raised Standard Lithium to a "strong-buy" rating in a research note on Wednesday, August 6th.

Standard Lithium Stock Performance

The firm has a fifty day moving average price of $2.35 and a two-hundred day moving average price of $1.75. The stock has a market capitalization of $570.18 million, a P/E ratio of -13.36 and a beta of 1.69.

Institutional Investors Weigh In On Standard Lithium

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Koch Inc. purchased a new position in shares of Standard Lithium during the fourth quarter valued at approximately $19,681,000. Renaissance Technologies LLC purchased a new stake in Standard Lithium during the fourth quarter worth $964,000. Concentric Capital Strategies LP purchased a new stake in Standard Lithium during the fourth quarter worth $752,000. Y Intercept Hong Kong Ltd purchased a new stake in Standard Lithium during the first quarter worth $435,000. Finally, Jane Street Group LLC lifted its holdings in shares of Standard Lithium by 285.5% during the 2nd 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 last quarter. 16.70% of the stock is owned by 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.