Standard Lithium (CVE:SLL) Shares Up 16.4% – Here’s What Happened

Standard Lithium Ltd. (CVE:SLL) rose 16.4% on Tuesday. The company traded as high as C$6.95 and last traded at C$6.95. Approximately 1,408,977 shares were traded during trading, an increase of 298% from the average session volume of 354,366 shares. The stock had previously closed at C$5.97.

Standard Lithium Stock Performance

The company has a fifty day moving average of C$6.95 and a two-hundred day moving average of C$6.95. The firm has a market capitalization of C$975.46 million and a price-to-earnings ratio of -33.57. The company has a debt-to-equity ratio of 6.45, a quick ratio of 20.26 and a current ratio of 20.48.

Institutional Investors Weigh In On Standard Lithium

A hedge fund recently bought a new position in Standard Lithium stock. Walleye Capital LLC purchased a new stake in Standard Lithium Ltd. (CVE:SLL) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 522,962 shares of the company’s stock, valued at approximately $1,438,000. Walleye Capital LLC owned approximately 0.37% of Standard Lithium as of its most recent filing with the Securities & Exchange Commission.

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 where it operates approximately 150,000 acres of brine leases located in south-western 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.