Standard Lithium (NYSEMKT:SLI) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Standard Lithium (NYSEMKT:SLIGet Rating) from a hold rating to a sell rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “Standard Lithium Ltd is a technology and lithium development company. Its flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction. Standard Lithium Ltd is based in Vancouver, Canada. “

Shares of SLI stock opened at $5.41 on Friday. The stock’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $7.47. The stock has a market cap of $891.57 million and a P/E ratio of -25.76.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLI. Simmons Bank raised its stake in shares of Standard Lithium by 3.8% in the first quarter. Simmons Bank now owns 54,136 shares of the company’s stock valued at $476,000 after acquiring an additional 2,000 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Standard Lithium by 32.4% during the first quarter. Royal Bank of Canada now owns 8,214 shares of the company’s stock worth $73,000 after buying an additional 2,012 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Standard Lithium by 5.9% during the first quarter. Raymond James & Associates now owns 51,381 shares of the company’s stock worth $452,000 after buying an additional 2,846 shares during the last quarter. Strategic Wealth Advisors Group LLC lifted its position in Standard Lithium by 6.0% in the first quarter. Strategic Wealth Advisors Group LLC now owns 57,950 shares of the company’s stock valued at $510,000 after purchasing an additional 3,300 shares during the period. Finally, Advisory Services Network LLC lifted its position in Standard Lithium by 8.7% in the first quarter. Advisory Services Network LLC now owns 51,414 shares of the company’s stock valued at $452,000 after purchasing an additional 4,106 shares during the period. 25.69% of the stock is owned by institutional investors.

About Standard Lithium (Get Rating)

Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States. Its flagship project is the Lanxess project with approximately 150,000 acres of brine leases located in south-western Arkansas. The company was formerly known as Patriot Petroleum Corp. and changed its name to Standard Lithium Ltd.

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