Piedmont Lithium (NASDAQ:PLL) Downgraded to “Hold” Rating by Roth Capital

Roth Capital downgraded shares of Piedmont Lithium (NASDAQ:PLL) from a strong-buy rating to a hold rating in a research note published on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on PLL. Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $13.00 in a research report on Wednesday. B. Riley reduced their target price on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Macquarie lowered Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price for the company. in a report on Wednesday, October 16th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st. Finally, BMO Capital Markets raised their price objective on Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Piedmont Lithium has an average rating of “Hold” and an average target price of $19.69.

Piedmont Lithium Trading Down 14.5 %

Piedmont Lithium stock opened at $10.47 on Wednesday. Piedmont Lithium has a 12 month low of $6.57 and a 12 month high of $31.82. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $11.21 and its two-hundred day simple moving average is $10.93. The company has a market capitalization of $203.54 million, a price-to-earnings ratio of -2.56 and a beta of 0.74.

Institutional Trading of Piedmont Lithium

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its stake in Piedmont Lithium by 38.7% during the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 936 shares during the period. National Bank of Canada FI increased its holdings in Piedmont Lithium by 2,095.4% during the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock worth $25,000 after purchasing an additional 2,724 shares during the period. HITE Hedge Asset Management LLC lifted 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 purchasing an additional 4,345 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Piedmont Lithium during the 2nd quarter worth approximately $47,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Piedmont Lithium in the first quarter valued at $71,000. 52.23% of the stock is owned by institutional investors and hedge funds.

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.