Short Interest in Standard Lithium Ltd. (NYSEAMERICAN:SLI) Decreases By 19.2%

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 6,823,893 shares, a decrease of 19.2% from the December 31st total of 8,440,533 shares. Based on an average daily volume of 3,034,858 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.8% of the shares of the stock are sold short. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily volume of 3,034,858 shares, the days-to-cover ratio is presently 2.2 days.

Standard Lithium Price Performance

Shares of Standard Lithium stock traded up $0.06 on Monday, reaching $4.40. 3,088,141 shares of the company were exchanged, compared to its average volume of 3,361,552. The stock’s 50 day moving average price is $4.82 and its 200-day moving average price is $3.86. The company has a market cap of $1.06 billion, a P/E ratio of -20.00 and a beta of 1.73. Standard Lithium has a 1-year low of $1.08 and a 1-year high of $6.40.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Standard Lithium in a research note on Wednesday, January 28th. Roth Mkm reduced their target price on Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Canaccord Genuity Group increased their price target on Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a research note on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $5.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Stanley Laman Group Ltd. purchased a new position in shares of Standard Lithium during the third quarter worth about $2,909,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Standard Lithium by 40.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 165,783 shares of the company’s stock valued at $325,000 after purchasing an additional 48,026 shares during the period. Simmons Bank boosted its position in shares of Standard Lithium by 40.3% in the 2nd quarter. Simmons Bank now owns 93,236 shares of the company’s stock valued at $183,000 after purchasing an additional 26,760 shares during the period. XTX Topco Ltd purchased a new position in Standard Lithium during the 2nd quarter worth approximately $300,000. Finally, Stephens Inc. AR increased its position in Standard Lithium by 10.6% during the second quarter. Stephens Inc. AR now owns 273,275 shares of the company’s stock worth $536,000 after buying an additional 26,270 shares during the period. 16.70% of the stock is owned by hedge funds and other institutional investors.

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.