Standard Lithium (OTCMKTS:SLI) Shares Down 3.4% – What’s Next?

Standard Lithium Ltd. (OTCMKTS:SLI)’s stock price dropped 3.4% on Thursday . The company traded as low as $1.92 and last traded at $2.00. Approximately 2,439,091 shares changed hands during trading, an increase of 94% from the average daily volume of 1,259,626 shares. The stock had previously closed at $2.07.

Standard Lithium Stock Down 4.5 %

The firm’s fifty day moving average price is $1.46 and its 200-day moving average price is $1.40. The stock has a market cap of $329.96 million, a P/E ratio of -8.37 and a beta of 1.89.

Standard Lithium (OTCMKTS:SLI) last issued its quarterly earnings data on Tuesday, September 24th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Sell-side analysts predict that Standard Lithium Ltd. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Standard Lithium

A hedge fund recently raised its stake in Standard Lithium stock. Van ECK Associates Corp boosted its stake in Standard Lithium Ltd. (OTCMKTS:SLI) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,694,140 shares of the company’s stock after buying an additional 329,320 shares during the period. Van ECK Associates Corp owned 1.56% of Standard Lithium worth $3,179,000 at the end of the most recent reporting period. 16.77% of the stock is currently owned by institutional investors and hedge funds.

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.