Standard Lithium (CVE:SLI) Shares Down 3.7% – Here’s What Happened

Standard Lithium Ltd. (CVE:SLI)’s share price was down 3.7% during trading on Thursday. The company traded as low as C$2.87 and last traded at C$2.89. 136,527 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 216,462 shares. The stock had previously closed at C$3.00.

Wall Street Analysts Forecast Growth

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

Standard Lithium Price Performance

The stock has a market capitalization of C$649.04 million, a P/E ratio of -11.95 and a beta of 1.63. The business’s 50 day simple moving average is C$3.18 and its two-hundred day simple moving average is C$4.28. The company has a quick ratio of 25.41, a current ratio of 20.17 and a debt-to-equity ratio of 0.06.

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 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.