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

Standard Lithium Ltd. (CVE:SLI)’s stock price reached a new 52-week low 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 upgraded shares of Standard Lithium to a “hold” rating and set a C$2.90 price target on the stock in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Standard Lithium presently has an average rating of “Buy” and an average price target of C$2.90.

Standard Lithium Stock Down 8.9%

The stock has a fifty day moving average of C$3.04 and a two-hundred day moving average of C$4.01. 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 market cap of C$505.91 million, a price-to-earnings ratio of -9.32 and a beta of 1.77.

Insider Activity

In other news, Director David Park bought 52,838 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average price of C$2.59 per share, for a total transaction of C$136,850.42. Following the acquisition, the director owned 1,701,975 shares of the company’s stock, valued at C$4,408,115.25. This trade represents a 3.20% increase 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.