Standard Lithium (NYSEAMERICAN:SLI) Shares Up 8.7% – Still a Buy?

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shares rose 8.7% during trading on Tuesday . The company traded as high as $3.51 and last traded at $3.51. Approximately 418,880 shares changed hands during trading, a decline of 84% from the average daily volume of 2,591,156 shares. The stock had previously closed at $3.23.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reaffirmed an “outperform” rating on shares of Standard Lithium in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $5.25.

Standard Lithium Stock Up 1.2%

The firm has a fifty day moving average price of $4.29 and a 200 day moving average price of $4.26. The company has a market cap of $837.00 million, a P/E ratio of -15.68 and a beta of 1.81.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of Standard Lithium during the second quarter worth approximately $300,000. Quadrature Capital Ltd increased its holdings in shares of Standard Lithium by 942.5% in the second quarter. Quadrature Capital Ltd now owns 108,854 shares of the company’s stock valued at $213,000 after purchasing an additional 98,412 shares in the last quarter. Jump Financial LLC bought a new position in Standard Lithium in the 2nd quarter worth approximately $43,000. Cerity Partners LLC bought a new position in Standard Lithium in the 2nd quarter worth approximately $44,000. Finally, WINTON GROUP Ltd acquired a new position in Standard Lithium during the 2nd quarter worth $36,000. Institutional investors and hedge funds 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.