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

Standard Lithium Ltd. (CVE:SLI) shares dropped 0.5% during trading on Monday . The company traded as low as C$3.83 and last traded at C$3.96. Approximately 70,701 shares traded 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.

Wall Street Analyst Weigh In

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

Standard Lithium Price Performance

The company has a quick ratio of 25.41, a current ratio of 20.17 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of C$5.09 and a 200 day moving average price of C$5.71. The firm has a market capitalization of C$965.68 million, a PE ratio of -17.22 and a beta of 1.54.

Insider Transactions at Standard Lithium

In other Standard Lithium news, insider James Andrew Charles Robinson purchased 15,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of C$4.91 per share, with a total value of C$73,650.00. Following the completion of the purchase, the insider owned 3,292,701 shares in the company, valued at approximately C$16,167,161.91. This represents a 0.46% increase in their position. Also, Director Robert Melvin Douglas Cross sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$5.46, for a total value of C$136,500.00. Following the transaction, the director owned 26,401 shares in the company, valued at approximately C$144,149.46. This represents a 48.64% decrease in their ownership of the stock. Insiders own 15.19% of the company’s stock.

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.