Piedmont Lithium (NASDAQ:PLL) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Shares of Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.95 and traded as high as $14.60. Piedmont Lithium shares last traded at $12.95, with a volume of 1,571,441 shares traded.

Analyst Ratings Changes

PLL has been the topic of a number of research analyst reports. Roth Mkm reissued a "buy" rating and issued a $31.00 price target (down from $40.00) on shares of Piedmont Lithium in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on Piedmont Lithium from $8.50 to $9.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $8.00 price objective (down previously from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. Macquarie cut Piedmont Lithium from a "neutral" rating to an "underperform" rating and set a $7.80 target price for the company. in a report on Wednesday, October 16th. Finally, B. Riley cut their price target 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.26.

Piedmont Lithium Stock Up 3.1 %

The firm has a market cap of $259.39 million, a PE ratio of -3.26 and a beta of 0.74. The company has a current ratio of 1.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $10.63 and a 200-day moving average price of $10.95.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The mineral exploration company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.40). The company had revenue of $27.66 million for the quarter, compared to the consensus estimate of $32.91 million. Research analysts forecast that Piedmont Lithium Inc. will post -2.66 EPS for the current fiscal year.

Institutional Trading of Piedmont Lithium

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Piedmont Lithium during the 1st quarter worth about $25,000. FMR LLC raised 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 purchasing an additional 936 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Piedmont Lithium during the 2nd quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Piedmont Lithium during the 2nd quarter worth approximately $58,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Piedmont Lithium in the 1st quarter valued at $71,000. 52.23% of the stock is owned by hedge funds and other 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.