Standard Lithium Ltd. (NYSEAMERICAN:SLI – Get Free Report) was up 8.8% on Friday . The stock traded as high as $2.49 and last traded at $2.47. Approximately 1,503,745 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 2,083,412 shares. The stock had previously closed at $2.27.
Wall Street Analysts Forecast Growth
Separately, Evercore began coverage on Standard Lithium in a report on Wednesday, April 29th. They set an “outperform” rating and a $4.75 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Standard Lithium presently has a consensus rating of “Buy” and an average price target of $5.92.
Read Our Latest Research Report on SLI
Standard Lithium Price Performance
Hedge Funds Weigh In On Standard Lithium
Several institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp bought a new position in Standard Lithium during the 4th quarter valued at $69,461,000. Encompass Capital Advisors LLC bought a new stake in shares of Standard Lithium in the 4th quarter worth about $36,000,000. Burkehill Global Management LP acquired a new stake in shares of Standard Lithium in the 4th quarter valued at about $8,940,000. Balyasny Asset Management L.P. bought a new position in shares of Standard Lithium during the fourth quarter worth about $5,756,000. Finally, Amundi acquired a new position in Standard Lithium in the fourth quarter worth about $4,823,000. 16.70% of the stock is currently owned by hedge funds and other institutional investors.
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.
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