Standard Lithium (CVE:SLI) Trading Down 7.3% – Here’s Why

Standard Lithium Ltd. (CVE:SLI)’s stock price was down 7.3% during mid-day trading on Wednesday . The company traded as low as C$1.90 and last traded at C$1.90. Approximately 254,482 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 152,196 shares. The stock had previously closed at C$2.05.

Standard Lithium Price Performance

The stock has a 50 day moving average price of C$2.62 and a 200-day moving average price of C$2.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.30 and a quick ratio of 25.41. The stock has a market capitalization of C$372.85 million, a price-to-earnings ratio of 2.46 and a beta of 1.93.

Standard Lithium (CVE:SLI) last announced its earnings results on Tuesday, November 12th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.01). On average, analysts forecast that Standard Lithium Ltd. will post -0.2 earnings per share for the current year.

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.