Standard Lithium (NYSEAMERICAN:SLI) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Standard Lithium (NYSEAMERICAN:SLI) announced its quarterly earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports.

Standard Lithium Price Performance

Shares of SLI stock traded down $0.08 during trading on Thursday, hitting $1.38. 2,032,013 shares of the stock traded hands, compared to its average volume of 2,016,262. The firm has a market capitalization of $340.56 million, a P/E ratio of -6.90 and a beta of 2.15. The firm’s fifty day moving average price is $1.76 and its 200-day moving average price is $3.03. Standard Lithium has a 52-week low of $1.32 and a 52-week high of $6.00.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group initiated coverage on shares of Standard Lithium in a research report on Wednesday, September 2nd. They set a “hold” rating and a $2.90 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.83.

Standard Lithium Company Profile

Standard Lithium Ltd. is a Canada-based company focused on developing lithium projects in the United States. It is advancing resources in the Smackover Formation, a geological region spanning parts of Arkansas and Texas that contains lithium-bearing brine. The company is developing direct lithium extraction processes intended to recover lithium from brine and produce battery-grade lithium carbonate. Its projects include the South West Arkansas Project and lithium development areas in East Texas.