Roth Mkm Has Lowered Expectations for Piedmont Lithium (NASDAQ:PLL) Stock Price

Piedmont Lithium (NASDAQ:PLL) had its price objective dropped by Roth Mkm from $13.00 to $8.25 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the mineral exploration company’s stock. Roth Mkm’s price objective suggests a potential upside of 1.23% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Macquarie raised 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 target price on shares of Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a report on Friday, November 29th. Finally, Roth Capital lowered shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.63.

Piedmont Lithium Trading Down 4.1 %

Shares of Piedmont Lithium stock opened at $8.15 on Friday. The firm has a market capitalization of $158.44 million, a PE ratio of -2.45 and a beta of 0.78. 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 company’s fifty day moving average price is $8.80 and its two-hundred day moving average price is $9.90. Piedmont Lithium has a 52-week low of $6.57 and a 52-week high of $17.66.

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

Insider Buying and Selling

In related news, CEO Keith D. Phillips sold 41,867 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total transaction of $515,382.77. Following the transaction, the chief executive officer now owns 170,616 shares in the company, valued at $2,100,282.96. This represents a 19.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its position in Piedmont Lithium by 708.5% during the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after purchasing an additional 27,194 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $1,383,000 after purchasing an additional 20,481 shares during the period. Larson Financial Group LLC lifted its position in 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 valued at $223,000 after purchasing an additional 8,643 shares during the period. FMR LLC lifted its position in Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after purchasing an additional 936 shares during the period. Finally, HITE Hedge Asset Management LLC lifted its position in 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 valued at $1,366,000 after purchasing an additional 4,345 shares during the period. Institutional investors and hedge funds own 52.23% of the company’s stock.

About Piedmont Lithium

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.