Standard Lithium (CVE:SLL) Stock Price Up 16.4% – Here’s What Happened

Shares of Standard Lithium Ltd. (CVE:SLL) shot up 16.4% during mid-day trading on Tuesday. The stock traded as high as C$6.95 and last traded at C$6.95. 1,408,977 shares changed hands during mid-day trading, an increase of 298% from the average daily volume of 354,366 shares. The stock had previously closed at C$5.97.

Standard Lithium Stock Up 16.4%

The stock has a 50-day moving average of C$6.95 and a 200-day moving average of C$6.95. The company has a debt-to-equity ratio of 6.45, a current ratio of 20.48 and a quick ratio of 20.26. The firm has a market cap of C$975.46 million and a price-to-earnings ratio of -33.57.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Standard Lithium stock. Walleye Capital LLC acquired a new position in shares of Standard Lithium Ltd. (CVE:SLL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 522,962 shares of the company’s stock, valued at approximately $1,438,000. Walleye Capital LLC owned 0.37% of Standard Lithium as of its most recent SEC filing.

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 where it operates approximately 150,000 acres of brine leases located in south-western 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.