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

Standard Lithium (NYSE:SLI) had its price target lifted by equities researchers at Canaccord Genuity Group from $3.90 to $4.40 in a report issued on Monday,Benzinga reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 165.86% from the stock’s current price.

Standard Lithium Trading Down 6.0 %

Shares of NYSE:SLI opened at $1.66 on Monday. The company has a market capitalization of $285.90 million, a PE ratio of 2.81 and a beta of 1.79. Standard Lithium has a twelve month low of $1.05 and a twelve month high of $2.64. The firm has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $1.55.

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

Institutional Trading of Standard Lithium

Several institutional investors and hedge funds have recently bought and sold shares of SLI. Tidal Investments LLC purchased a new stake in Standard Lithium in the 1st quarter valued at $363,000. Van ECK Associates Corp raised its position in Standard Lithium by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,011,876 shares of the company’s stock valued at $3,765,000 after purchasing an additional 317,736 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Standard Lithium in the 2nd quarter valued at $74,000. Renaissance Technologies LLC raised its position in Standard Lithium by 765.9% in the 2nd quarter. Renaissance Technologies LLC now owns 286,609 shares of the company’s stock valued at $358,000 after purchasing an additional 253,509 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Standard Lithium in the 2nd quarter valued at $78,000. 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.