Stock Traders Buy High Volume of Call Options on Standard Lithium (NYSEAMERICAN:SLI)

Standard Lithium Ltd. (NYSEAMERICAN:SLI) was the target of unusually large options trading activity on Monday. Traders bought 17,623 call options on the stock. This represents an increase of 350% compared to the average daily volume of 3,920 call options.

Hedge Funds Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meriwether Wealth & Planning LLC lifted its stake in shares of Standard Lithium by 5.1% in the third quarter. Meriwether Wealth & Planning LLC now owns 39,751 shares of the company’s stock worth $134,000 after buying an additional 1,930 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Standard Lithium by 23.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 16,350 shares of the company’s stock worth $55,000 after acquiring an additional 3,102 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Standard Lithium by 2.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 169,280 shares of the company’s stock worth $570,000 after acquiring an additional 3,497 shares during the last quarter. MAI Capital Management lifted its position in Standard Lithium by 7.7% during the 3rd quarter. MAI Capital Management now owns 61,116 shares of the company’s stock worth $206,000 after acquiring an additional 4,366 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Standard Lithium by 4.3% in the second quarter. Raymond James Financial Inc. now owns 110,974 shares of the company’s stock valued at $218,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 16.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Standard Lithium Stock Performance

Shares of SLI traded up $0.17 during trading hours on Monday, hitting $5.14. 1,827,935 shares of the company were exchanged, compared to its average volume of 2,600,716. The company has a market cap of $1.23 billion, a PE ratio of -23.36 and a beta of 1.73. The firm’s 50 day moving average is $4.31 and its 200-day moving average is $3.55. Standard Lithium has a 52 week low of $1.08 and a 52 week high of $6.40.

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.