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

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $4.67, but opened at $4.35. Standard Lithium shares last traded at $4.49, with a volume of 344,235 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Standard Lithium in a research report on Wednesday, January 28th. Roth Mkm decreased their price objective on Standard Lithium from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $5.25.

Standard Lithium Price Performance

The stock has a market capitalization of $1.14 billion, a PE ratio of -21.50 and a beta of 1.71. The company has a 50 day moving average price of $4.73 and a 200-day moving average price of $4.09.

Hedge Funds Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently modified their holdings of SLI. Meriwether Wealth & Planning LLC raised its position in shares of Standard Lithium by 5.1% in the 3rd quarter. Meriwether Wealth & Planning LLC now owns 39,751 shares of the company’s stock worth $134,000 after acquiring an additional 1,930 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Standard Lithium by 23.4% in the third quarter. Jones Financial Companies Lllp now owns 16,350 shares of the company’s stock worth $55,000 after purchasing an additional 3,102 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Standard Lithium by 2.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 169,280 shares of the company’s stock worth $570,000 after purchasing an additional 3,497 shares during the period. Sound Income Strategies LLC raised its holdings in Standard Lithium by 44.2% in the fourth quarter. Sound Income Strategies LLC now owns 13,700 shares of the company’s stock worth $61,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Standard Lithium by 8.2% during the fourth quarter. Cetera Investment Advisers now owns 57,506 shares of the company’s stock valued at $257,000 after buying an additional 4,359 shares during the period. 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.