Standard Lithium (NYSEAMERICAN:SLI) Shares Down 1.4% – What’s Next?

Standard Lithium Ltd. (NYSEAMERICAN:SLI)’s share price fell 1.4% during trading on Monday . The stock traded as low as $3.42 and last traded at $3.42. 1,214,253 shares traded hands during trading, a decline of 30% from the average session volume of 1,734,910 shares. The stock had previously closed at $3.47.

Wall Street Analysts Forecast Growth

Separately, Evercore began coverage on shares of Standard Lithium in a research note 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, the company currently has an average rating of “Buy” and a consensus target price of $5.13.

Standard Lithium Stock Performance

The company’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $4.24.

Hedge Funds Weigh In On Standard Lithium

Hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new position in shares of Standard Lithium in the 3rd quarter worth approximately $1,816,000. Quantbot Technologies LP grew its stake in shares of Standard Lithium by 1,531.0% in the 3rd quarter. Quantbot Technologies LP now owns 148,547 shares of the company’s stock worth $501,000 after purchasing an additional 139,439 shares during the last quarter. Millennium Capital Advisors LLC acquired a new position in shares of Standard Lithium in the 4th quarter worth approximately $1,060,000. Jones Financial Companies Lllp grew its stake in shares of 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 purchasing an additional 3,102 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Standard Lithium in the 3rd quarter worth approximately $162,000. 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.