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

Piedmont Lithium (NASDAQ:PLL - Get Free Report) had its price target lowered by equities researchers at Roth Mkm from $13.00 to $8.25 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the mineral exploration company's stock. Roth Mkm's target price suggests a potential upside of 7.28% from the stock's previous close.

Several other equities analysts have also recently weighed in on PLL. Roth Capital cut Piedmont Lithium from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 20th. BMO Capital Markets raised their price target on shares of Piedmont Lithium from $9.50 to $14.00 and gave the company a "market perform" rating in a research report on Friday, November 29th. Finally, Macquarie upgraded shares of Piedmont Lithium from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.63.

Piedmont Lithium Stock Down 3.4 %

Shares of PLL traded down $0.27 on Friday, reaching $7.69. The company's stock had a trading volume of 221,285 shares, compared to its average volume of 278,997. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $17.66. The stock has a market capitalization of $149.48 million, a PE ratio of -2.32 and a beta of 0.78. The company has a current ratio of 2.23, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $8.75 and a 200-day moving average of $9.90.

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Piedmont Lithium (NASDAQ:PLL - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The mineral exploration company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.12). The company had revenue of $45.59 million during the quarter, compared to analysts' expectations of $52.60 million. Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. Equities analysts predict that Piedmont Lithium will post -0.91 EPS for the current year.

Insider Activity at Piedmont Lithium

In related news, CEO Keith D. Phillips sold 41,867 shares of Piedmont Lithium stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total value of $515,382.77. Following the sale, the chief executive officer now owns 170,616 shares of the company's stock, valued at approximately $2,100,282.96. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.81% of the stock is owned by company insiders.

Institutional Trading of Piedmont Lithium

A number of large investors have recently bought and sold shares of PLL. FMR LLC lifted its position in shares of Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company's stock valued at $30,000 after buying an additional 936 shares during the last quarter. Mariner LLC lifted its holdings in Piedmont Lithium by 12.0% during the fourth quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company's stock valued at $107,000 after purchasing an additional 1,313 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Piedmont Lithium by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company's stock valued at $34,000 after purchasing an additional 1,550 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Piedmont Lithium by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company's stock worth $613,000 after purchasing an additional 1,855 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Piedmont Lithium by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company's stock worth $288,000 after purchasing an additional 1,878 shares in the last quarter. 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.