Standard Lithium (CVE:SLI) Stock Price Up 0.3% – Time to Buy?

Shares of Standard Lithium Ltd. (CVE:SLI) shot up 0.3% during trading on Tuesday . The company traded as high as C$3.22 and last traded at C$3.14. 452,251 shares changed hands during mid-day trading, an increase of 106% from the average daily volume of 219,178 shares. The stock had previously closed at C$3.13.

Analysts Set New Price Targets

Separately, Evercore raised shares of Standard Lithium to a “strong-buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Standard Lithium Price Performance

The company has a fifty day moving average of C$3.64 and a 200 day moving average of C$4.78. The firm has a market capitalization of C$779.84 million, a P/E ratio of -14.36 and a beta of 1.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 20.17 and a quick ratio of 25.41.

Insider Transactions at Standard Lithium

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

Standard Lithium Company Profile

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.