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

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

Standard Lithium Trading Up 1.7 %

Standard Lithium stock opened at $1.76 on Monday. The stock has a market cap of $304.04 million, a P/E ratio of 2.98 and a beta of 1.79. The stock has a 50 day moving average of $1.90 and a 200-day moving average of $1.55. Standard Lithium has a 52 week low of $1.05 and a 52 week high of $2.64.

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

Hedge Funds Weigh In On Standard Lithium

Several large investors have recently added to or reduced their stakes in SLI. Aristides Capital LLC bought a new position in Standard Lithium during the second quarter worth $411,000. Van ECK Associates Corp lifted its stake 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 worth $3,765,000 after purchasing an additional 317,736 shares during the last quarter. Tidal Investments LLC bought a new position in Standard Lithium during the first quarter worth $363,000. Renaissance Technologies LLC lifted its stake in Standard Lithium by 765.9% in the second quarter. Renaissance Technologies LLC now owns 286,609 shares of the company’s stock valued at $358,000 after buying an additional 253,509 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its stake in Standard Lithium by 200.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 300,000 shares of the company’s stock valued at $490,000 after buying an additional 200,000 shares during the last quarter. 16.77% of the stock is currently owned by institutional investors.

About Standard Lithium

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.