Walleye Capital LLC Grows Position in Standard Lithium Ltd. $SLI

Walleye Capital LLC raised its stake in shares of Standard Lithium Ltd. (NYSEAMERICAN:SLI) by 49.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,391 shares of the company’s stock after purchasing an additional 244,115 shares during the quarter. Walleye Capital LLC owned about 0.30% of Standard Lithium worth $2,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in Standard Lithium in the third quarter worth $1,816,000. Encompass Capital Advisors LLC acquired a new stake in shares of Standard Lithium during the fourth quarter worth $36,000,000. Millennium Capital Advisors LLC bought a new position in shares of Standard Lithium in the 4th quarter worth about $1,060,000. Invesco Ltd. lifted its position in shares of Standard Lithium by 15.2% in the 3rd quarter. Invesco Ltd. now owns 2,517,414 shares of the company’s stock worth $8,484,000 after buying an additional 331,995 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Standard Lithium in the 3rd quarter worth about $153,000. Hedge funds and other institutional investors own 16.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Evercore started 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 for the company. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $5.92.

Standard Lithium Trading Down 5.7%

Shares of Standard Lithium stock opened at $2.17 on Friday. The stock has a market capitalization of $534.69 million, a price-to-earnings ratio of -9.86 and a beta of 1.80. Standard Lithium Ltd. has a twelve month low of $2.08 and a twelve month high of $6.40. The business’s 50 day simple moving average is $3.15 and its 200-day simple moving average is $3.85.

Standard Lithium (NYSEAMERICAN:SLI) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Sell-side analysts predict that Standard Lithium Ltd. will post -0.06 earnings per share for the current year.

Standard Lithium 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.