Piedmont Lithium (NASDAQ:PLL) Downgraded by Roth Capital to Hold

Roth Capital lowered shares of Piedmont Lithium (NASDAQ:PLL) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently commented on PLL. 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 research note on Monday, October 21st. BMO Capital Markets lifted their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Macquarie downgraded shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price for the company. in a research report on Wednesday, October 16th. B. Riley reduced 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. Finally, Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $13.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.69.

Piedmont Lithium Price Performance

Piedmont Lithium stock opened at $10.47 on Wednesday. The firm has a 50 day moving average price of $11.21 and a 200 day moving average price of $10.93. The company has a market cap of $203.54 million, a price-to-earnings ratio of -2.56 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99. Piedmont Lithium has a 1 year low of $6.57 and a 1 year high of $31.82.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System acquired a new stake in Piedmont Lithium during the first quarter valued at $71,000. Price T Rowe Associates Inc. MD lifted 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 valued at $254,000 after buying an additional 6,328 shares during the period. Boston Partners lifted its position in shares of Piedmont Lithium by 154.5% in the 1st 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 position in shares of Piedmont Lithium in the second quarter valued at $144,000. Finally, Raymond James & Associates acquired a new stake in Piedmont Lithium during the second quarter worth $1,472,000. 52.23% of the stock is owned by institutional investors and hedge funds.

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.