Standard Lithium (CVE:SLI) Reaches New 1-Year Low – Here’s Why

Standard Lithium Ltd. (CVE:SLI)’s share price hit a new 52-week low on Thursday. The stock traded as low as C$2.36 and last traded at C$2.36, with a volume of 139,067 shares. The stock had previously closed at C$2.50.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised shares of Standard Lithium to a “hold” rating and set a C$2.90 target price for the company in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$2.90.

Standard Lithium Trading Down 2.2%

The stock’s 50 day simple moving average is C$3.07 and its two-hundred day simple moving average is C$4.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 20.17 and a quick ratio of 25.41. The stock has a market capitalization of C$555.26 million, a PE ratio of -10.23 and a beta of 1.77.

Insider Transactions at Standard Lithium

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

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.