Standard Lithium (NYSEAMERICAN:SLI) Trading 15.2% Higher – Here’s What Happened

Standard Lithium Ltd. (NYSEAMERICAN:SLI) shares shot up 15.2% on Friday . The stock traded as high as $2.43 and last traded at $2.42. 5,156,865 shares were traded during trading, an increase of 325% from the average session volume of 1,212,971 shares. The stock had previously closed at $2.10.

Standard Lithium Stock Performance

The company has a market capitalization of $418.06 million, a price-to-earnings ratio of -11.00 and a beta of 1.81.

Standard Lithium (NYSEAMERICAN:SLI) last issued its quarterly earnings results on Tuesday, September 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Equities analysts anticipate that Standard Lithium Ltd. will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Standard Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in shares of Standard Lithium by 3.7% during the first quarter. International Assets Investment Management LLC now owns 300,250 shares of the company’s stock valued at $348,000 after acquiring an additional 10,800 shares in the last quarter. Foster Group Inc. acquired a new stake in Standard Lithium in the 1st quarter valued at $27,000. Finally, Creekmur Asset Management LLC bought a new stake in Standard Lithium during the 4th quarter valued at $93,000. 16.77% of the stock is owned by 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.