Standard Lithium (NYSEAMERICAN:SLI) Stock Price Up 6.2% - Time to Buy?

Key Points

• Standard Lithium's stock price increased by 6.2%, reaching $4.42 amid a trading session with significantly lower volume compared to its average.
• Analysts have set a mixed outlook for the company, with BMO Capital Markets maintaining an "outperform" rating and Roth Capital raising their price target to $6.00 from $4.50, while the consensus target price stands at $4.38.
• Institutional investors have shown increasing interest, with several hedge funds acquiring new positions or boosting their stakes in Standard Lithium during the second quarter.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report) shares traded up 6.2% during trading on Wednesday . The company traded as high as $4.42 and last traded at $4.42. 674,436 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,089,834 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BMO Capital Markets restated an "outperform" rating on shares of Standard Lithium in a research report on Monday, September 8th. Roth Capital upped their price objective on shares of Standard Lithium from $4.50 to $6.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Finally, Raymond James Financial assumed coverage on shares of Standard Lithium in a research report on Friday, July 11th. They issued an "outperform" rating and a $2.75 price objective for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $4.38.

Standard Lithium Trading Up 7.7%

The stock has a market capitalization of $868.85 million, a price-to-earnings ratio of -20.36 and a beta of 1.74. The stock's 50 day moving average is $3.01 and its two-hundred day moving average is $2.20.

Hedge Funds Weigh In On Standard Lithium

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Standard Lithium in the 2nd quarter worth $27,000. Bank of America Corp DE boosted its stake in Standard Lithium by 64.4% in the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company's stock worth $30,000 after purchasing an additional 6,040 shares during the period. WINTON GROUP Ltd acquired a new position in Standard Lithium in the 2nd quarter worth $36,000. Jump Financial LLC acquired a new position in shares of Standard Lithium during the 2nd quarter worth about $43,000. Finally, Cerity Partners LLC acquired a new position in shares of Standard Lithium during the 2nd quarter worth about $44,000. 16.70% of the stock is owned by institutional investors and hedge funds.

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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