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

Standard Lithium Ltd. (CVE:SLI) shares hit a new 52-week low during trading on Friday. The stock traded as low as C$2.58 and last traded at C$2.62, with a volume of 127253 shares traded. The stock had previously closed at C$2.89.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded shares of Standard Lithium to a “hold” rating and set a C$2.90 price target for the company in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$2.90.

Standard Lithium Trading Down 8.0%

The stock has a market capitalization of C$656.45 million, a P/E ratio of -12.09 and a beta of 1.63. The company has a current ratio of 20.17, a quick ratio of 25.41 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of C$3.19 and a two-hundred day moving average price of C$4.29.

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