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

Standard Lithium (NYSE:SLI) had its price target increased by stock analysts at Canaccord Genuity Group from $3.90 to $4.40 in a report issued on Monday,Benzinga reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 146.50% from the company’s current price.

Standard Lithium Price Performance

Shares of SLI stock traded up $0.06 during trading on Monday, reaching $1.79. The company’s stock had a trading volume of 1,155,895 shares, compared to its average volume of 1,383,105. The company has a market capitalization of $308.36 million, a price-to-earnings ratio of 3.03 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 moving average price is $1.89 and its 200 day moving average price is $1.55.

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

Hedge Funds Weigh In On Standard Lithium

A number of hedge funds have recently modified their holdings of the business. MBA Advisors LLC acquired a new stake in Standard Lithium during the 3rd quarter worth $37,000. Nwam LLC purchased a new position in shares of Standard Lithium during the third quarter worth about $80,000. Simmons Bank grew its position in Standard Lithium by 29.4% during the third quarter. Simmons Bank now owns 56,476 shares of the company’s stock worth $91,000 after buying an additional 12,840 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Standard Lithium during the 2nd quarter valued at approximately $74,000. Finally, XTX Topco Ltd purchased a new stake in shares of Standard Lithium during the 2nd quarter worth approximately $78,000. 16.77% of the stock is currently owned by hedge funds and other 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.