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

Piedmont Lithium (NASDAQ:PLL) was downgraded by analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $13.00 target price on the mineral exploration company’s stock, down from their prior target price of $32.00. Roth Mkm’s price objective points to a potential upside of 7.88% from the company’s current price.

PLL has been the subject of a number of other research reports. JPMorgan Chase & Co. reissued 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 shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price target for the company. in a research note on Wednesday, October 16th. BMO Capital Markets lifted 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 report on Tuesday, October 29th. Finally, B. Riley lowered 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Piedmont Lithium Stock Performance

NASDAQ PLL opened at $12.05 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99. The stock’s fifty day moving average is $11.30 and its two-hundred day moving average is $10.94. The firm has a market capitalization of $234.25 million, a P/E ratio of -2.95 and a beta of 0.74. Piedmont Lithium has a fifty-two week low of $6.57 and a fifty-two week high of $31.82.

Institutional Investors Weigh In On Piedmont Lithium

Several institutional investors and hedge funds have recently modified their holdings of PLL. State Board of Administration of Florida Retirement System acquired a new position in shares of Piedmont Lithium in the first quarter valued at approximately $71,000. Price T Rowe Associates Inc. MD grew its stake in shares of Piedmont Lithium by 49.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,054 shares of the mineral exploration company’s stock worth $254,000 after acquiring an additional 6,328 shares in the last quarter. Boston Partners increased its position in shares of 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 acquiring an additional 103,273 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Piedmont Lithium in the second quarter valued at $144,000. Finally, Raymond James & Associates purchased a new position in Piedmont Lithium in the second quarter valued at $1,472,000. Hedge funds and other institutional investors own 52.23% of the company’s stock.

About Piedmont Lithium

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.