Piedmont Lithium (NASDAQ:PLL) Rating Lowered to “Hold” at Roth Capital

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

PLL has been the topic of a number of other research reports. Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $13.00 in a research note on Wednesday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. B. Riley lowered their price objective on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Macquarie lowered shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price for the company. in a research note on Wednesday, October 16th. Finally, BMO Capital Markets lifted their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.50.

Piedmont Lithium Stock Performance

Shares of PLL stock opened at $13.28 on Wednesday. Piedmont Lithium has a 12-month low of $6.57 and a 12-month 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 firm has a market capitalization of $258.14 million, a price-to-earnings ratio of -3.25 and a beta of 0.74. The business has a 50 day simple moving average of $11.42 and a 200 day simple moving average of $10.92.

Institutional Trading of Piedmont Lithium

Several large investors have recently added to or reduced their stakes in PLL. HITE Hedge Asset Management LLC purchased a new stake in shares of Piedmont Lithium in the second quarter worth approximately $1,484,000. Raymond James & Associates purchased a new stake in Piedmont Lithium in the 2nd quarter worth approximately $1,472,000. Boston Partners boosted its stake 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 during the period. Marshall Wace LLP purchased a new position in shares of Piedmont Lithium during the 2nd quarter valued at $874,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Piedmont Lithium during the 2nd quarter valued at $723,000. 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.