Standard Lithium Ltd. (NYSEAMERICAN:SLI) Short Interest Update

Standard Lithium Ltd. (NYSEAMERICAN:SLI) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 2,779,088 shares, a decrease of 40.2% from the May 14th total of 4,650,215 shares. Based on an average trading volume of 1,628,900 shares, the short-interest ratio is presently 1.7 days. Approximately 1.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLI. Van ECK Associates Corp purchased a new position in shares of Standard Lithium in the fourth quarter valued at $69,461,000. Encompass Capital Advisors LLC purchased a new position in shares of Standard Lithium in the fourth quarter valued at $36,000,000. Burkehill Global Management LP purchased a new position in shares of Standard Lithium in the fourth quarter valued at $8,940,000. Balyasny Asset Management L.P. purchased a new position in shares of Standard Lithium in the fourth quarter valued at $5,756,000. Finally, Amundi purchased a new position in shares of Standard Lithium in the fourth quarter valued at $4,823,000. 16.70% of the stock is currently owned by hedge funds and other institutional investors.

Standard Lithium Stock Performance

Shares of SLI stock traded down $0.01 on Monday, hitting $3.57. The stock had a trading volume of 2,106,593 shares, compared to its average volume of 2,207,330. The firm has a market capitalization of $869.87 million, a price-to-earnings ratio of -16.23 and a beta of 1.75. The stock’s 50 day moving average is $3.73 and its 200-day moving average is $4.24. Standard Lithium has a 52-week low of $1.77 and a 52-week high of $6.40.

Wall Street Analyst Weigh In

Separately, Evercore began coverage on shares of Standard Lithium in a research note on Wednesday, April 29th. They issued an “outperform” rating and a $4.75 target price for the company. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $5.13.

Standard Lithium Company Profile

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.