Standard Lithium (NYSEAMERICAN:SLI) Stock Price Down 1.4% – Here’s What Happened

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s stock price traded down 1.4% during mid-day trading on Monday . The stock traded as low as $3.42 and last traded at $3.42. 1,214,253 shares traded hands during trading, a decline of 30% from the average session volume of 1,734,910 shares. The stock had previously closed at $3.47.

Analyst Ratings Changes

Separately, Evercore assumed coverage on Standard Lithium in a research report on Wednesday, April 29th. They set an “outperform” rating and a $4.75 target price on the stock. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $5.13.

Standard Lithium Stock Down 1.4%

The company has a market cap of $833.32 million, a PE ratio of -15.54 and a beta of 1.75. The stock has a 50-day moving average of $3.73 and a 200-day moving average of $4.25.

Institutional Investors Weigh In On Standard Lithium

Large investors have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in Standard Lithium during the third quarter valued at about $26,000. Bank of America Corp DE raised its position in Standard Lithium by 64.4% during 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 in the last quarter. WINTON GROUP Ltd purchased a new stake in Standard Lithium during the second quarter valued at about $36,000. Stone House Investment Management LLC raised its position in Standard Lithium by 734.3% during the fourth quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock valued at $37,000 after purchasing an additional 7,343 shares in the last quarter. Finally, Themes Management Co LLC purchased a new position in shares of Standard Lithium in the first quarter worth about $39,000. Hedge funds and other institutional investors own 16.70% of the company’s stock.

About Standard Lithium

Standard Lithium (NYSEAMERICAN: SLI) is a mineral exploration and development company focused on the extraction of lithium from sedimentary brine resources. Utilizing direct lithium extraction (DLE) processes, the company aims to deliver high-purity lithium carbonate and lithium hydroxide suitable for the battery and electric vehicle markets. Standard Lithium’s technology is designed to accelerate lithium recovery rates while minimizing environmental impact compared to traditional solar evaporation methods.

The company’s flagship project is located in the Smackover Formation of southern Arkansas, in collaboration with chemical producer LANXESS.