Piedmont Lithium (NASDAQ:PLL) Price Target Cut to $8.25 by Analysts at Roth Mkm

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

Other analysts also recently issued research reports about the stock. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. BMO Capital Markets lifted their price objective on shares of Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a research note on Friday, November 29th. Finally, Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Piedmont Lithium has a consensus rating of “Hold” and an average target price of $20.63.

Piedmont Lithium Stock Performance

Shares of PLL stock opened at $8.15 on Friday. Piedmont Lithium has a 1 year low of $6.57 and a 1 year high of $17.66. The company has a quick ratio of 1.99, a current ratio of 2.23 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $8.80 and its two-hundred day moving average is $9.90.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings results 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). Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. The firm had revenue of $45.59 million for the quarter, compared to analysts’ expectations of $52.60 million. As a group, sell-side analysts forecast that Piedmont Lithium will post -0.91 earnings per share for the current year.

Insider Transactions at Piedmont Lithium

In other news, CEO Keith D. Phillips sold 41,867 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 170,616 shares of the company’s stock, valued at $2,100,282.96. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quest Partners LLC boosted its position in shares of Piedmont Lithium by 708.5% during the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock worth $277,000 after purchasing an additional 27,194 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 20,481 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Piedmont Lithium by 53.0% in the third 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 boosted its holdings 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 buying an additional 936 shares in the last quarter. Finally, HITE Hedge Asset Management LLC grew its position in Piedmont Lithium by 2.9% during the third quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after buying an additional 4,345 shares during the period. 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.