Standard Lithium (NYSEAMERICAN:SLI) Trading Up 6.9% - Time to Buy?

Key Points

• Standard Lithium's share price increased by 6.9% on Thursday, trading at $2.93, despite a decline in trading volume by 74% from the average session.
• Analysts from BMO Capital Markets have upgraded Standard Lithium to a "strong-buy" rating, while Raymond James issued an "outperform" rating with a $2.75 price target.
• Institutional investors own 16.70% of Standard Lithium's stock, with several firms recently acquiring new stakes in the company.

Standard Lithium Ltd. (NYSEAMERICAN:SLI - Get Free Report)'s share price shot up 6.9% during mid-day trading on Thursday . The stock traded as high as $2.93 and last traded at $2.93. 484,350 shares traded hands during trading, a decline of 74% from the average session volume of 1,894,237 shares. The stock had previously closed at $2.74.

Analyst Upgrades and Downgrades

SLI has been the subject of several analyst reports. Raymond James Financial initiated coverage on Standard Lithium in a report on Friday, July 11th. They issued an "outperform" rating and a $2.75 price target for the company. BMO Capital Markets upgraded Standard Lithium to a "strong-buy" rating in a report on Wednesday, August 6th.

Standard Lithium Trading Down 1.4%

The business has a 50-day moving average price of $2.35 and a 200 day moving average price of $1.75. The company has a market cap of $562.43 million, a price-to-earnings ratio of -13.18 and a beta of 1.69.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of Standard Lithium by 64.4% in the second quarter. Bank of America Corp DE now owns 15,412 shares of the company's stock valued at $30,000 after purchasing an additional 6,040 shares during the last quarter. Jane Street Group LLC grew 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 last quarter. Raymond James Financial Inc. grew its position in shares of Standard Lithium by 4.3% in the second quarter. Raymond James Financial Inc. now owns 110,974 shares of the company's stock valued at $218,000 after purchasing an additional 4,600 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 purchasing an additional 37,474 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Standard Lithium in the second quarter valued at about $36,000. 16.70% of the stock is 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.