Standard Lithium (NYSEAMERICAN:SLI) Trading Up 4.4% – Here’s What Happened

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shot up 4.4% during mid-day trading on Tuesday . The company traded as high as $3.60 and last traded at $3.59. 892,452 shares were traded during trading, a decline of 67% from the average session volume of 2,698,478 shares. The stock had previously closed at $3.44.

Analyst Ratings Changes

SLI has been the topic of a number of research reports. Canaccord Genuity Group upped their price objective on Standard Lithium from $5.00 to $7.50 and gave the company a “speculative buy” rating in a report on Tuesday, October 21st. BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research report on Thursday, October 23rd. Finally, Roth Capital dropped their target price on shares of Standard Lithium from $6.00 to $5.50 and set a “buy” rating for the company in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Standard Lithium has a consensus rating of “Buy” and an average target price of $5.25.

Standard Lithium Trading Down 6.1%

The business has a 50-day moving average of $3.78 and a 200 day moving average of $2.79. The firm has a market capitalization of $915.00 million, a PE ratio of -17.45 and a beta of 1.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its position in Standard Lithium by 72.0% in the third quarter. XTX Topco Ltd now owns 263,510 shares of the company’s stock worth $888,000 after buying an additional 110,280 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Standard Lithium during the 3rd quarter worth $317,000. Mercer Global Advisors Inc. ADV increased its holdings in Standard Lithium by 12.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 102,990 shares of the company’s stock worth $347,000 after acquiring an additional 11,190 shares during the last quarter. Millennium Management LLC increased its holdings in Standard Lithium by 487.3% in the 3rd quarter. Millennium Management LLC now owns 313,556 shares of the company’s stock worth $1,057,000 after acquiring an additional 260,169 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Standard Lithium by 2.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,641,489 shares of the company’s stock valued at $5,636,000 after purchasing an additional 33,540 shares during the period. 16.70% of the stock is currently owned by hedge funds and other institutional investors.

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.