Canaccord Genuity Group Forecasts Strong Price Appreciation for Standard Lithium (NYSE:SLI) Stock

Standard Lithium (NYSE:SLI) had its price target hoisted by Canaccord Genuity Group from $3.90 to $4.40 in a research report released on Monday,Benzinga reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

Standard Lithium Stock Up 1.5 %

NYSE SLI opened at $1.69 on Monday. Standard Lithium has a twelve month low of $1.05 and a twelve month high of $2.64. The stock has a market cap of $291.09 million, a P/E ratio of 2.86 and a beta of 1.79. The company’s 50-day simple moving average is $1.91 and its 200 day simple moving average is $1.55.

Standard Lithium (NYSE:SLI) last released its quarterly earnings data on Tuesday, September 24th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Research analysts anticipate that Standard Lithium will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Standard Lithium

Several institutional investors and hedge funds have recently made changes to their positions in the company. MBA Advisors LLC bought a new position in Standard Lithium during the 3rd quarter valued at about $37,000. Legacy Capital Wealth Partners LLC bought a new position in shares of Standard Lithium in the second quarter valued at approximately $74,000. XTX Topco Ltd acquired a new position in shares of Standard Lithium in the 2nd quarter worth approximately $78,000. Nwam LLC bought a new stake in Standard Lithium during the 3rd quarter worth approximately $80,000. Finally, Simmons Bank increased its holdings in Standard Lithium by 29.4% during the 3rd quarter. Simmons Bank now owns 56,476 shares of the company’s stock valued at $91,000 after purchasing an additional 12,840 shares in the last quarter. Institutional investors and hedge funds own 16.77% of the company’s stock.

Standard Lithium Company Profile

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.