Piedmont Lithium (NASDAQ:PLL) Downgraded to “Neutral” Rating by Roth Mkm

Roth Mkm downgraded shares of Piedmont Lithium (NASDAQ:PLL) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat Ratings reports. Roth Mkm currently has $13.00 price objective on the mineral exploration company’s stock, down from their prior price objective of $32.00.

A number of other brokerages also recently issued reports on PLL. 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 report on Tuesday, October 29th. B. Riley lowered their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Macquarie downgraded Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price objective for the company. in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price objective (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.50.

Piedmont Lithium Stock Performance

Shares of PLL stock opened at $13.28 on Wednesday. The business’s 50-day moving average price is $11.42 and its 200-day moving average price is $10.92. Piedmont Lithium has a 12 month low of $6.57 and a 12 month high of $31.82. The firm has a market capitalization of $258.14 million, a price-to-earnings ratio of -3.25 and a beta of 0.74. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Institutional Trading of Piedmont Lithium

A number of institutional investors have recently added to or reduced their stakes in PLL. Millennium Management LLC raised its holdings in shares of Piedmont Lithium by 12.0% in the 2nd quarter. Millennium Management LLC now owns 381,248 shares of the mineral exploration company’s stock valued at $3,805,000 after acquiring an additional 40,826 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Piedmont Lithium by 20.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,994,000 after acquiring an additional 50,000 shares in the last quarter. Boston Partners raised its holdings in shares of Piedmont Lithium by 154.5% in the 1st quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after acquiring an additional 103,273 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Piedmont Lithium by 15.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock valued at $1,383,000 after acquiring an additional 20,481 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in shares of Piedmont Lithium by 2.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock valued at $1,366,000 after acquiring an additional 4,345 shares in the last quarter. Hedge funds and other institutional investors 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.