Piedmont Lithium (NASDAQ:PLL) Cut to “Neutral” at Roth Mkm

Roth Mkm cut shares of Piedmont Lithium (NASDAQ:PLL) from a buy rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has $13.00 target price on the mineral exploration company’s stock, down from their previous target price of $32.00.

Several other research analysts have also recently weighed in on the stock. 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 report on Wednesday, October 16th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. B. Riley reduced their price target on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, BMO Capital Markets upped their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. One investment 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.50.

Piedmont Lithium Stock Up 10.2 %

Shares of NASDAQ:PLL opened at $13.28 on Wednesday. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $31.82. 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 company has a market capitalization of $258.16 million, a PE ratio of -3.25 and a beta of 0.74. The company has a 50 day moving average price of $11.42 and a two-hundred day moving average price of $10.94.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its holdings in Piedmont Lithium by 2,095.4% during the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock worth $25,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC boosted 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 during the last quarter. Point72 DIFC Ltd bought a new stake in Piedmont Lithium during the second quarter worth $47,000. State Board of Administration of Florida Retirement System bought a new stake in Piedmont Lithium during the first quarter worth $71,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Piedmont Lithium during the second quarter worth $58,000. Institutional investors and hedge funds 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.