Standard Lithium (OTCMKTS:SLI) Trading Down 1.7%

Standard Lithium Ltd. (OTCMKTS:SLI) shares fell 1.7% during trading on Wednesday . The company traded as low as $1.18 and last traded at $1.19. 363,500 shares were traded during trading, a decline of 67% from the average session volume of 1,103,902 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their target price on shares of Standard Lithium from $4.25 to $3.50 and set a “buy” rating for the company in a research note on Thursday, May 9th.

Standard Lithium Stock Performance

The stock has a market capitalization of $198.66 million, a price-to-earnings ratio of -5.02 and a beta of 1.87. The company’s 50 day moving average is $1.26 and its 200 day moving average is $1.31.

Institutional Investors Weigh In On Standard Lithium

A hedge fund recently raised its stake in Standard Lithium stock. Van ECK Associates Corp lifted its position in Standard Lithium Ltd. (OTCMKTS:SLI) by 13.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,694,140 shares of the company’s stock after purchasing 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. Institutional investors and hedge funds own 16.77% of the company’s stock.

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.