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

Standard Lithium Ltd. (NYSEAMERICAN:SLI) gapped up prior to trading on Tuesday . The stock had previously closed at $5.13, but opened at $5.35. Standard Lithium shares last traded at $5.31, with a volume of 881,753 shares changing hands.

Analyst Ratings Changes

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

Standard Lithium Price Performance

The business’s 50 day moving average price is $4.34 and its 200 day moving average price is $3.57. The firm has a market cap of $1.26 billion, a PE ratio of -23.95 and a beta of 1.73.

Hedge Funds Weigh In On Standard Lithium

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Standard Lithium during the third quarter worth $109,000. Tudor Investment Corp ET AL acquired a new position in shares of Standard Lithium during the 3rd quarter valued at about $1,816,000. XTX Topco Ltd boosted its position in shares of Standard Lithium by 72.0% during the 3rd quarter. XTX Topco Ltd now owns 263,510 shares of the company’s stock valued at $888,000 after acquiring an additional 110,280 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Standard Lithium in the third quarter valued at about $317,000. Finally, Mercer Global Advisors Inc. ADV increased its position in Standard Lithium by 12.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 102,990 shares of the company’s stock worth $347,000 after purchasing an additional 11,190 shares during the last quarter. Hedge funds and other 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.