Standard Lithium (CVE:SLI) Trading Down 0.5% – Here’s Why

Shares of Standard Lithium Ltd. (CVE:SLI) traded down 0.5% during trading on Monday . The stock traded as low as C$3.83 and last traded at C$3.96. 70,701 shares changed hands during trading, a decline of 70% from the average session volume of 234,686 shares. The stock had previously closed at C$3.98.

Analysts Set New Price Targets

Separately, Evercore upgraded Standard Lithium to a “strong-buy” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Standard Lithium Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 20.17 and a quick ratio of 25.41. The business’s fifty day simple moving average is C$5.06 and its 200 day simple moving average is C$5.69. The stock has a market cap of C$946.17 million, a price-to-earnings ratio of -16.87 and a beta of 1.54.

Insider Activity at Standard Lithium

In other Standard Lithium news, insider James Andrew Charles Robinson acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of C$4.91 per share, for a total transaction of C$73,650.00. Following the completion of the purchase, the insider directly owned 3,292,701 shares in the company, valued at C$16,167,161.91. The trade was a 0.46% increase in their ownership of the stock. Also, Director David Park acquired 28,328 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of C$4.77 per share, for a total transaction of C$135,124.56. Following the purchase, the director owned 1,649,137 shares of the company’s stock, valued at C$7,866,383.49. This trade represents a 1.75% increase in their ownership of the stock. Insiders own 15.19% 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. in December 2016. Standard Lithium Ltd. was incorporated in 1998 and is headquartered in Vancouver, Canada.