Standard Lithium (CVE:SLI) Sets New 52-Week Low – Here’s Why

Standard Lithium Ltd. (CVE:SLI)’s share price reached a new 52-week low on Friday. The stock traded as low as C$2.51 and last traded at C$2.53, with a volume of 103871 shares trading hands. The stock had previously closed at C$2.55.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Standard Lithium to a “hold” rating and set a C$2.90 price objective on the stock in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$2.90.

Standard Lithium Price Performance

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 firm has a market cap of C$619.43 million, a P/E ratio of -11.41 and a beta of 1.63. The firm has a 50-day simple moving average of C$3.14 and a 200-day simple moving average of C$4.17.

Insider Buying and Selling at Standard Lithium

In related news, Director David Park acquired 52,838 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of C$2.59 per share, with a total value of C$136,850.42. Following the completion of the transaction, the director directly owned 1,701,975 shares in the company, valued at C$4,408,115.25. This trade represents a 3.20% increase in their ownership of the stock. 15.19% of the stock is owned by company insiders.

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.