Canaccord Genuity Group Boosts Standard Lithium (NYSE:SLI) Price Target to $4.40

Standard Lithium (NYSE:SLI) had its target price increased by equities researchers at Canaccord Genuity Group from $3.90 to $4.40 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 146.50% from the company’s previous close.

Standard Lithium Stock Up 3.2 %

Shares of NYSE:SLI traded up $0.06 during trading on Monday, reaching $1.79. The stock had a trading volume of 1,155,895 shares, compared to its average volume of 1,383,105. The stock has a market cap of $308.36 million, a P/E ratio of 3.03 and a beta of 1.79. The business has a fifty day moving average price of $1.89 and a 200-day moving average price of $1.55. Standard Lithium has a fifty-two week low of $1.05 and a fifty-two week high of $2.64.

Standard Lithium (NYSE:SLI) last issued its quarterly earnings results on Tuesday, September 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). As a group, equities analysts forecast that Standard Lithium will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Standard Lithium

A number of large investors have recently bought and sold shares of SLI. Van ECK Associates Corp lifted its position in Standard Lithium by 11.8% during the second quarter. Van ECK Associates Corp now owns 3,011,876 shares of the company’s stock valued at $3,765,000 after buying an additional 317,736 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Standard Lithium by 62.7% in the third quarter. International Assets Investment Management LLC now owns 461,990 shares of the company’s stock valued at $744,000 after acquiring an additional 177,990 shares in the last quarter. Aristides Capital LLC bought a new position in Standard Lithium during the 2nd quarter valued at $411,000. Tidal Investments LLC acquired a new position in Standard Lithium during the 1st quarter worth $363,000. Finally, Stephens Inc. AR increased its position in shares of Standard Lithium by 3.6% in the 3rd quarter. Stephens Inc. AR now owns 307,524 shares of the company’s stock worth $495,000 after purchasing an additional 10,635 shares during the last quarter. Hedge funds and other institutional investors own 16.77% of the company’s stock.

Standard Lithium Company Profile

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.