Standard Lithium (CVE:SLL) Shares Up 16.4% – Time to Buy?

Shares of Standard Lithium Ltd. (CVE:SLL) shot up 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 mid-day trading, an increase of 298% from the average daily volume of 354,366 shares. The stock had previously closed at C$5.97.

Standard Lithium Price Performance

The stock has a market cap of C$975.46 million and a price-to-earnings ratio of -33.57. The company has a 50-day simple moving average of C$6.95 and a two-hundred day simple moving average of C$6.95. The company has a debt-to-equity ratio of 6.45, a quick ratio of 20.26 and a current ratio of 20.48.

Hedge Funds Weigh In On Standard Lithium

An institutional investor recently bought a new position in Standard Lithium stock. Walleye Capital LLC purchased a new position in shares of Standard Lithium Ltd. (CVE:SLL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Standard Lithium Company Profile

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.