Standard Lithium Ltd. (NYSEAMERICAN:SLI – Get Free Report)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $2.19 and last traded at $2.20, with a volume of 516699 shares trading hands. The stock had previously closed at $2.29.
Analyst Upgrades and Downgrades
Separately, Evercore started coverage on Standard Lithium in a research report on Wednesday, April 29th. They set an “outperform” rating and a $4.75 price objective for the company. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $5.92.
View Our Latest Stock Report on SLI
Standard Lithium Stock Performance
Standard Lithium (NYSEAMERICAN:SLI – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Research analysts expect that Standard Lithium Ltd. will post -0.06 earnings per share for the current year.
Hedge Funds Weigh In On Standard Lithium
Several hedge funds have recently bought and sold shares of the business. Aquatic Capital Management LLC bought a new stake in shares of Standard Lithium during the 3rd quarter worth about $26,000. Bank of America Corp DE lifted its holdings in Standard Lithium by 64.4% in the 2nd quarter. Bank of America Corp DE now owns 15,412 shares of the company’s stock worth $30,000 after purchasing an additional 6,040 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Standard Lithium in the 2nd quarter worth approximately $36,000. Stone House Investment Management LLC boosted its position in 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. Finally, Themes Management Co LLC bought a new stake in Standard Lithium during the first quarter worth approximately $39,000. 16.70% of the stock is 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.
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