Standard Lithium (NYSEAMERICAN:SLI) Shares Up 0.8% – Should You Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shares rose 0.8% during mid-day trading on Thursday . The company traded as high as $2.57 and last traded at $2.54. Approximately 1,206,186 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 1,817,365 shares. The stock had previously closed at $2.52.

Wall Street Analysts Forecast Growth

Separately, Evercore began coverage on Standard Lithium in a report on Wednesday, April 29th. They set an “outperform” rating and a $4.75 target price on the stock. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.12.

Standard Lithium Price Performance

The company’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $4.02. The company has a market capitalization of $623.42 million, a P/E ratio of -11.54 and a beta of 1.80.

Standard Lithium (NYSEAMERICAN:SLI) last announced its earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. On average, analysts anticipate that Standard Lithium Ltd. will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Standard Lithium

A number of institutional investors have recently made changes to their positions in SLI. Aquatic Capital Management LLC bought a new stake in shares of Standard Lithium during the third quarter worth approximately $26,000. Bank of America Corp DE increased its stake in shares of Standard Lithium by 64.4% during the second 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 bought a new position in shares of Standard Lithium during the second quarter worth approximately $36,000. Stone House Investment Management LLC lifted its holdings in Standard Lithium by 734.3% during the 4th quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock worth $37,000 after purchasing an additional 7,343 shares during the last quarter. Finally, Themes Management Co LLC acquired a new stake in Standard Lithium during the 1st quarter worth approximately $39,000. 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.