Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 6.9% - Time to Sell?

Key Points

• Standard Lithium's stock price declined by 6.9% during trading on Monday, closing at $3.93, with a notable drop in trading volume.
• Several brokerages have set favorable ratings for the stock, with prices targets ranging from $2.75 to $7.50, while its consensus price target is $5.42.
• Institutional investors have increased their stakes in Standard Lithium, with notable transactions indicating a diversified approach by hedge funds interested in the company's growth.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s stock price was down 6.9% during trading on Monday . The company traded as low as $3.91 and last traded at $3.93. Approximately 1,452,278 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 2,593,642 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

A number of brokerages have issued reports on SLI. BMO Capital Markets reissued an "outperform" rating on shares of Standard Lithium in a report on Thursday. Raymond James Financial began coverage on shares of Standard Lithium in a research report on Friday, July 11th. They set an "outperform" rating and a $2.75 price target for the company. Canaccord Genuity Group boosted their price target on shares of Standard Lithium from $5.00 to $7.50 and gave the company a "speculative buy" rating in a research report on Tuesday, October 21st. Finally, Roth Capital upped their target price on shares of Standard Lithium from $4.50 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $5.42.

Standard Lithium Stock Down 7.8%

The firm's 50-day simple moving average is $3.52 and its 200-day simple moving average is $2.51. The firm has a market capitalization of $754.43 million, a PE ratio of -17.68 and a beta of 1.74.

Hedge Funds Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently modified their holdings of SLI. Stanley Laman Group Ltd. bought a new position in shares of Standard Lithium during the third quarter valued at about $2,909,000. Y Intercept Hong Kong Ltd bought a new position in shares of Standard Lithium during the first quarter valued at about $435,000. Jane Street Group LLC raised its stake in shares of Standard Lithium by 285.5% during the second quarter. Jane Street Group LLC now owns 349,477 shares of the company's stock valued at $685,000 after acquiring an additional 258,814 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Standard Lithium by 103.6% during the first quarter. Alps Advisors Inc. now owns 316,244 shares of the company's stock valued at $402,000 after acquiring an additional 160,907 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Standard Lithium during the second quarter valued at about $300,000. 16.70% of the stock is owned by institutional investors.

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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