Standard Lithium (NYSEAMERICAN:SLI) Shares Up 6.9% - Should You 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) traded up 6.9% on Thursday . The company traded as high as $2.93 and last traded at $2.93. 484,350 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,894,237 shares. The stock had previously closed at $2.74.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Standard Lithium in a research note on Friday, July 11th. They issued an "outperform" rating and a $2.75 target price on the stock. BMO Capital Markets raised Standard Lithium to a "strong-buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus price target of $3.58.

Standard Lithium Stock Performance

The company has a 50-day simple moving average of $2.39 and a 200-day simple moving average of $1.76.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. LPL Financial LLC raised its stake in shares of Standard Lithium by 11.2% during the fourth quarter. LPL Financial LLC now owns 85,261 shares of the company's stock valued at $124,000 after acquiring an additional 8,584 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Standard Lithium in the fourth quarter valued at about $37,000. Renaissance Technologies LLC purchased a new stake in Standard Lithium in the fourth quarter worth about $964,000. Raymond James Financial Inc. bought a new position in Standard Lithium during the 4th quarter worth about $168,000. Finally, Barclays PLC increased its position in Standard Lithium by 25.5% during the 4th quarter. Barclays PLC now owns 100,710 shares of the company's stock valued at $147,000 after purchasing an additional 20,490 shares during the period. 16.70% of the stock is currently 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.