Standard Lithium (CVE:SLI) Shares Up 0.3% – Still a Buy?

Standard Lithium Ltd. (CVE:SLI)’s share price was up 0.3% during mid-day trading on Tuesday . The stock traded as high as C$3.22 and last traded at C$3.14. 452,251 shares traded hands during trading, an increase of 106% from the average session 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 research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Standard Lithium Stock Performance

The company has a market cap of C$774.90 million, a price-to-earnings ratio of -14.27 and a beta of 1.61. The company has a current ratio of 20.17, a quick ratio of 25.41 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is C$3.67 and its 200 day moving average price is C$4.81.

Insider Buying and Selling

In related news, Director David Park purchased 28,328 shares of the business’s stock in a transaction on Monday, June 8th. The shares were bought at an average price of C$4.77 per share, with a total value of C$135,124.56. Following the completion of the purchase, the director directly owned 1,649,137 shares in the company, valued at approximately C$7,866,383.49. This trade represents a 1.75% increase in their position. Also, Director Robert Melvin Douglas Cross sold 25,000 shares of the business’s 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 sale, the director directly owned 26,401 shares of the company’s stock, valued at C$144,149.46. This represents a 48.64% decrease in their ownership of the stock. 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.