Standard Lithium (CVE:SLI) Shares Down 4.4% – What’s Next?

Standard Lithium Ltd. (CVE:SLI)’s stock price dropped 4.4% during trading on Monday . The stock traded as low as C$3.02 and last traded at C$3.05. Approximately 59,340 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 224,143 shares. The stock had previously closed at C$3.19.

Wall Street Analyst Weigh In

Separately, Evercore upgraded shares of Standard Lithium to a “strong-buy” rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Standard Lithium Stock Down 4.4%

The business has a 50 day moving average of C$4.57 and a two-hundred day moving average of C$5.38. The stock has a market capitalization of C$743.77 million, a PE ratio of -13.26 and a beta of 1.64. 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 Buying and Selling at Standard Lithium

In other news, Director Robert Melvin Douglas Cross sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of C$5.46, for a total value of C$136,500.00. Following the sale, the director directly owned 26,401 shares in the company, valued at approximately C$144,149.46. This trade represents a 48.64% decrease in their position. Also, Director David Park acquired 28,328 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was purchased at an average cost of C$4.77 per share, for a total transaction of C$135,124.56. Following the transaction, the director owned 1,649,137 shares in the company, valued at approximately C$7,866,383.49. The trade was a 1.75% increase in their ownership of the stock. Insiders own 15.19% of the company’s stock.

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.