Standard Lithium (OTCMKTS:SLI) Trading Up 4%
Standard Lithium (OTCMKTS:SLI) shares rose 4%, reaching a price of $0.17. Despite a decline in trading volume, a recent research note from Roth MKM lowered the price target from $0.25 to $0.50, maintaining a 'buy' rating. The company has a market capital of $26 million and a P/E ratio of -5.07. Institutional investors, notably Van ECK Associates Corp, recently increased their stake by 13.9%. Standard Lithium focuses on lithium brine properties in the U.S., with its main project located in Arkansas.
Standard Lithium Ltd. (OTCMKTS:SLI - Get Free Report) shares shot up 4% on Tuesday . The stock traded as high as $1.17 and last traded at $1.17. 514,597 shares were traded during trading, a decline of 55% from the average session volume of 1,150,339 shares. The stock had previously closed at $1.12.
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Wall Street Analysts Forecast Growth
Separately, Roth Mkm lowered their price objective on Standard Lithium from $4.25 to $3.50 and set a "buy" rating for the company in a research note on Thursday, May 9th.
Get Our Latest Report on SLI
Standard Lithium Price Performance
The firm has a market capitalization of $201.26 million, a P/E ratio of -5.07 and a beta of 1.87. The firm's fifty day moving average price is $1.31 and its 200-day moving average price is $1.33.
Hedge Funds Weigh In On Standard Lithium
An institutional investor recently raised its position in Standard Lithium stock. Van ECK Associates Corp lifted its stake in shares of Standard Lithium Ltd. (OTCMKTS:SLI - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,694,140 shares of the company's stock after acquiring an additional 329,320 shares during the quarter. Van ECK Associates Corp owned 1.56% of Standard Lithium worth $3,179,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 16.77% of the company's stock.
About Standard Lithium
(Get Free Report)Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States. Its flagship project is the Lanxess project with area of approximately 150,000 acres located in southern Arkansas. The company was formerly known as Patriot Petroleum Corp. and changed its name to Standard Lithium Ltd.
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