Piedmont Lithium (NASDAQ:PLL) Stock Rating Lowered by Roth Capital

Piedmont Lithium (NASDAQ:PLL) was downgraded by equities research analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $13.00 in a report on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. B. Riley decreased their price target on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a report on Monday, August 12th. BMO Capital Markets upped their target price on Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Macquarie lowered Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price target on the stock. in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.50.

Piedmont Lithium Stock Up 15.1 %

NASDAQ PLL opened at $12.05 on Wednesday. Piedmont Lithium has a fifty-two week low of $6.57 and a fifty-two week high of $31.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.99 and a quick ratio of 1.99. The business has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $10.94. The stock has a market capitalization of $234.25 million, a PE ratio of -2.95 and a beta of 0.74.

Hedge Funds Weigh In On Piedmont Lithium

Large investors have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC purchased a new stake in Piedmont Lithium during the second quarter valued at about $1,484,000. Raymond James & Associates bought a new position in shares of Piedmont Lithium in the second quarter worth approximately $1,472,000. Boston Partners raised its holdings in shares of Piedmont Lithium by 154.5% during the 1st quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after buying an additional 103,273 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Piedmont Lithium in the 2nd quarter valued at $874,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Piedmont Lithium in the 2nd quarter worth $723,000. 52.23% of the stock is currently owned by institutional investors.

Piedmont Lithium Company Profile

Piedmont Lithium Inc, a development stage company, engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Carolina Lithium Project that include an area of approximately 3,706 acres located within the Carolina Tin-Spodumene Belt situated to the northwest of Charlotte, North Carolina in the United States.