Piedmont Lithium (NASDAQ:PLL) Downgraded by Roth Capital to Hold

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

A number of other equities analysts have also recently weighed in on the company. Macquarie cut Piedmont Lithium from a "neutral" rating to an "underperform" rating and set a $7.80 price target for the company. in a report on Wednesday, October 16th. BMO Capital Markets upped their target price on Piedmont Lithium from $8.50 to $9.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Roth Mkm lowered Piedmont Lithium from a "buy" rating to a "neutral" rating and dropped their target price for the company from $32.00 to $13.00 in a research note on Wednesday. B. Riley lowered their price target 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. Finally, 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.50.

Piedmont Lithium Price Performance

Shares of Piedmont Lithium stock traded up $1.77 during trading on Wednesday, reaching $12.24. The company's stock had a trading volume of 834,350 shares, compared to its average volume of 715,582. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 12-month low of $6.57 and a 12-month high of $31.82. The company has a market capitalization of $237.95 million, a P/E ratio of -2.80 and a beta of 0.74. The business has a 50 day moving average price of $11.21 and a 200-day moving average price of $10.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System acquired a new stake in Piedmont Lithium during the first quarter valued at approximately $71,000. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 6,328 shares in the last quarter. Boston Partners raised 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 valued at $2,266,000 after buying an additional 103,273 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Piedmont Lithium during the second quarter valued at approximately $144,000. Finally, Raymond James & Associates acquired a new stake in Piedmont Lithium during the second quarter valued at approximately $1,472,000. Institutional investors and hedge funds 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.