Standard Lithium (CVE:SLI) Hits New 12-Month Low – Here’s What Happened

Standard Lithium Ltd. (CVE:SLI) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as C$2.04 and last traded at C$2.05, with a volume of 256,664 shares traded. The stock had previously closed at C$2.25.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised shares of Standard Lithium to a “hold” rating and set a C$2.90 target price for the company in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$2.90.

Standard Lithium Price Performance

The company has a 50 day moving average of C$3.04 and a 200 day moving average of C$4.01. The stock has a market capitalization of C$505.91 million, a price-to-earnings ratio of -9.32 and a beta of 1.77. The company has a quick ratio of 25.41, a current ratio of 20.17 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other Standard Lithium news, Director David Park purchased 52,838 shares of the stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of C$2.59 per share, for a total transaction of C$136,850.42. Following the acquisition, the director directly owned 1,701,975 shares of the company’s stock, valued at C$4,408,115.25. This represents a 3.20% increase in their ownership of the stock. 15.19% of the stock is owned by company insiders.

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. in December 2016. Standard Lithium Ltd. was incorporated in 1998 and is headquartered in Vancouver, Canada.