Canaccord Genuity Group Issues Positive Forecast for Standard Lithium (NYSE:SLI) Stock Price

Standard Lithium (NYSE:SLI) had its price target boosted by Canaccord Genuity Group from $3.90 to $4.40 in a research report sent to investors on Monday,Benzinga reports. They currently have a speculative buy rating on the stock.

Standard Lithium Price Performance

NYSE:SLI opened at $1.69 on Monday. The company has a market cap of $291.95 million, a price-to-earnings ratio of 2.86 and a beta of 1.79. Standard Lithium has a 1 year low of $1.05 and a 1 year high of $2.64. The stock’s 50 day simple moving average is $1.92 and its two-hundred day simple moving average is $1.56.

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

Institutional Investors Weigh In On Standard Lithium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MBA Advisors LLC purchased a new position in shares of Standard Lithium in the 3rd quarter worth approximately $37,000. Legacy Capital Wealth Partners LLC purchased a new stake in Standard Lithium during the 2nd quarter valued at $74,000. XTX Topco Ltd bought a new stake in Standard Lithium in the second quarter worth $78,000. Nwam LLC purchased a new position in Standard Lithium during the third quarter worth $80,000. Finally, Simmons Bank increased its position in Standard Lithium by 29.4% during the third quarter. Simmons Bank now owns 56,476 shares of the company’s stock valued at $91,000 after acquiring an additional 12,840 shares during the last quarter. 16.77% of the stock is currently owned by hedge funds and other institutional investors.

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.