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

Standard Lithium Ltd. (CVE:SLI)’s stock price hit a new 52-week low during trading on Friday. The stock traded as low as C$2.58 and last traded at C$2.62, with a volume of 127253 shares changing hands. The stock had previously closed at C$2.89.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of Standard Lithium to a “hold” rating and set a C$2.90 price target 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 given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$2.90.

Standard Lithium Stock Performance

The stock has a fifty day simple moving average of C$3.19 and a two-hundred day simple moving average of C$4.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 25.41 and a current ratio of 20.17. The stock has a market cap of C$656.45 million, a price-to-earnings ratio of -12.09 and a beta of 1.63.

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.