Standard Lithium Ltd. (CVE:SLI – Get Free Report)’s share price traded up 8.2% on Monday. The stock traded as high as C$2.30 and last traded at C$2.24. Approximately 133,899 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 233,682 shares. The stock had previously closed at C$2.07.
Analyst Ratings Changes
Separately, Jefferies Financial Group started coverage on Standard Lithium in a research report on Wednesday, September 2nd. They set a “hold” rating and a C$2.90 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Standard Lithium currently has a consensus rating of “Buy” and a consensus price target of C$2.90.
Standard Lithium Trading Down 5.9%
The firm has a market cap of C$515.78 million, a P/E ratio of -9.50 and a beta of 1.86. The stock has a fifty day simple moving average of C$2.48 and a 200 day simple moving average of C$4.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 25.41 and a current ratio of 20.17.
Insider Activity
In other Standard Lithium news, Director David Park bought 52,838 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of C$2.59 per share, with a total value of C$136,850.42. Following the transaction, the director owned 1,701,975 shares in the company, valued at C$4,408,115.25. This represents a 3.20% increase in their ownership of the stock. Also, insider James Andrew Charles Robinson bought 45,000 shares of the stock in a transaction on Friday, October 16th. The shares were bought at an average price of C$2.01 per share, for a total transaction of C$90,450.00. Following the purchase, the insider directly owned 3,392,567 shares in the company, valued at approximately C$6,819,059.67. This trade represents a 1.34% increase in their position. 15.19% of the stock is currently owned by company 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.
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