Standard Lithium (NYSEAMERICAN:SLI) Shares Gap Up – Here’s What Happened

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shares gapped up before the market opened on Monday . The stock had previously closed at $5.65, but opened at $5.99. Standard Lithium shares last traded at $5.69, with a volume of 1,077,499 shares traded.

Analyst Ratings Changes

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

Standard Lithium Trading Up 0.5%

The stock’s 50-day simple moving average is $4.78 and its 200-day simple moving average is $3.81. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -25.32 and a beta of 1.73.

Hedge Funds Weigh In On Standard Lithium

A number of institutional investors have recently added to or reduced their stakes in SLI. Aquatic Capital Management LLC acquired a new stake in Standard Lithium in the third quarter valued at approximately $26,000. Stone House Investment Management LLC lifted its holdings in shares of Standard Lithium by 734.3% during the fourth quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock worth $37,000 after purchasing an additional 7,343 shares during the period. Burney Co. bought a new position in Standard Lithium during the 4th quarter worth $45,000. HBK Sorce Advisory LLC acquired a new position in Standard Lithium during the 3rd quarter worth about $41,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Standard Lithium by 400.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,500 shares of the company’s stock valued at $55,000 after buying an additional 10,000 shares during the period. 16.70% of the stock is currently owned by institutional investors and hedge funds.

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.