Piedmont Lithium (NASDAQ:PLL) Lowered to Neutral Rating by Roth Mkm

Roth Mkm downgraded shares of Piedmont Lithium (NASDAQ:PLL - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. Roth Mkm currently has $13.00 target price on the mineral exploration company's stock, down from their previous target price of $32.00.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Macquarie downgraded 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. JPMorgan Chase & Co. reissued an "underweight" rating and set a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. Finally, B. Riley cut 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.69.

Piedmont Lithium Trading Down 14.5 %

NASDAQ:PLL traded down $1.78 on Wednesday, reaching $10.47. The company's stock had a trading volume of 1,562,109 shares, compared to its average volume of 715,047. Piedmont Lithium has a 1-year low of $6.57 and a 1-year high of $31.82. The business's 50-day moving average price is $11.15 and its two-hundred day moving average price is $10.93. The firm has a market cap of $203.52 million, a PE ratio of -2.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99.

Institutional Investors Weigh In On Piedmont Lithium

Several institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System acquired a new stake in Piedmont Lithium during the first quarter worth about $71,000. Price T Rowe Associates Inc. MD raised its position in Piedmont Lithium by 49.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,054 shares of the mineral exploration company's stock valued at $254,000 after purchasing an additional 6,328 shares in the last quarter. Boston Partners lifted its stake in Piedmont Lithium by 154.5% during the first quarter. Boston Partners now owns 170,097 shares of the mineral exploration company's stock worth $2,266,000 after purchasing an additional 103,273 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Piedmont Lithium in the 2nd quarter valued at $144,000. Finally, Raymond James & Associates acquired a new stake in shares of Piedmont Lithium in the 2nd quarter valued at $1,472,000. 52.23% of the stock is currently owned by institutional investors.

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.