Piedmont Lithium (NASDAQ:PLL) Price Target Lowered to $8.25 at Roth Mkm

Piedmont Lithium (NASDAQ:PLL) had its target price trimmed by Roth Mkm from $13.00 to $8.25 in a report released on Friday,Benzinga reports. The firm currently has a neutral rating on the mineral exploration company’s stock.

Several other brokerages have also commented on PLL. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. BMO Capital Markets upped their price target on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research note on Friday, November 29th. Finally, Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.63.

Piedmont Lithium Trading Down 4.1 %

PLL stock opened at $8.15 on Friday. Piedmont Lithium has a 52-week low of $6.57 and a 52-week high of $17.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. The business has a fifty day moving average of $8.80 and a two-hundred day moving average of $9.90.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The business had revenue of $45.59 million for the quarter, compared to analyst estimates of $52.60 million. Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. Analysts predict that Piedmont Lithium will post -0.91 EPS for the current fiscal year.

Insider Transactions at Piedmont Lithium

In other news, CEO Keith D. Phillips sold 41,867 shares of Piedmont Lithium stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total value of $515,382.77. Following the completion of the transaction, the chief executive officer now owns 170,616 shares in the company, valued at approximately $2,100,282.96. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.81% of the company’s stock.

Institutional Trading of Piedmont Lithium

Several hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in Piedmont Lithium by 708.5% in the third quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after buying an additional 27,194 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Piedmont Lithium by 15.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock worth $1,383,000 after acquiring an additional 20,481 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Piedmont Lithium by 53.0% during the 3rd quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company’s stock worth $223,000 after acquiring an additional 8,643 shares in the last quarter. FMR LLC increased its holdings in shares of Piedmont Lithium by 38.7% in the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after acquiring an additional 936 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its position in shares of Piedmont Lithium by 2.9% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after acquiring an additional 4,345 shares in the last quarter. Institutional investors and hedge funds own 52.23% of the company’s stock.

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.