Standard Lithium (OTCMKTS:SLI) Trading Down 3.4% – Should You Sell?

Standard Lithium Ltd. (OTCMKTS:SLI) was down 3.4% during trading on Thursday . The stock traded as low as $1.92 and last traded at $2.00. Approximately 2,439,091 shares traded hands during mid-day 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 Performance

The firm has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $1.39. The firm has a market cap of $345.50 million, a P/E ratio of -8.70 and a beta of 1.89.

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

Hedge Funds Weigh In On Standard Lithium

A hedge fund recently raised its stake in Standard Lithium stock. Van ECK Associates Corp raised its holdings in Standard Lithium Ltd. (OTCMKTS:SLI) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,694,140 shares of the company’s stock after buying an additional 329,320 shares during the quarter. Van ECK Associates Corp owned about 1.56% of Standard Lithium worth $3,179,000 at the end of the most recent quarter. 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.