Roth Mkm Cuts Piedmont Lithium (NASDAQ:PLL) Price Target to $8.25

Piedmont Lithium (NASDAQ:PLL) had its price objective trimmed by Roth Mkm from $13.00 to $8.25 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the mineral exploration company’s stock.

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

Piedmont Lithium Stock Down 4.1 %

Shares of PLL opened at $8.15 on Friday. Piedmont Lithium has a 52-week low of $6.57 and a 52-week 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 business has a fifty day moving average of $8.80 and a 200 day moving average of $9.91. The company has a market cap of $158.44 million, a PE ratio of -2.45 and a beta of 0.78.

Piedmont Lithium (NASDAQ:PLL) last posted its quarterly earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.12). Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. The company had revenue of $45.59 million for the quarter, compared to the consensus estimate of $52.60 million. On average, sell-side analysts expect that Piedmont Lithium will post -0.91 EPS for the current year.

Insider Activity at Piedmont Lithium

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total transaction of $515,382.77. Following the transaction, the chief executive officer now directly owns 170,616 shares of the company’s stock, valued at approximately $2,100,282.96. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Piedmont Lithium

Several large investors have recently modified their holdings of the stock. Quest Partners LLC increased its stake in Piedmont Lithium by 708.5% in the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after buying an additional 27,194 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Piedmont Lithium by 15.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock worth $1,383,000 after acquiring an additional 20,481 shares during the period. Larson Financial Group LLC increased its stake in shares of Piedmont Lithium by 53.0% during the third quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company’s stock worth $223,000 after acquiring an additional 8,643 shares during the period. 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. Finally, HITE Hedge Asset Management LLC lifted its position in Piedmont Lithium by 2.9% in the third quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock valued at $1,366,000 after purchasing 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.