Standard Lithium (NYSEAMERICAN:SLI) Shares Down 7.1% – Here’s What Happened

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s share price was down 7.1% on Wednesday . The stock traded as low as $3.98 and last traded at $4.03. Approximately 621,291 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,322,440 shares. The stock had previously closed at $4.34.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Standard Lithium in a research report on Wednesday, January 28th. Evercore assumed coverage on shares of Standard Lithium in a research report on Wednesday, April 29th. They set an “outperform” rating and a $4.75 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $5.13.

Standard Lithium Stock Performance

The company has a market cap of $1.02 billion, a PE ratio of -19.00 and a beta of 1.77. The company has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $4.22.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SLI. Aquatic Capital Management LLC acquired a new stake in shares of Standard Lithium during the 3rd quarter valued at $26,000. Bank of America Corp DE raised its holdings in shares of Standard Lithium by 64.4% during the second quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock worth $30,000 after acquiring an additional 6,040 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Standard Lithium during the second quarter worth $36,000. Stone House Investment Management LLC grew its stake in Standard Lithium by 734.3% in the fourth quarter. Stone House Investment Management LLC now owns 8,343 shares of the company’s stock valued at $37,000 after purchasing an additional 7,343 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Standard Lithium in the second quarter valued at about $43,000. 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.