MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $146,000 Position in Piedmont Lithium Inc. (NASDAQ:PLL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) by 91.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,754 shares of the mineral exploration company's stock after selling 176,346 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Piedmont Lithium worth $146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mariner LLC boosted its position in shares of Piedmont Lithium by 12.0% during the fourth quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company's stock worth $107,000 after buying an additional 1,313 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Piedmont Lithium by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company's stock valued at $613,000 after acquiring an additional 1,855 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Piedmont Lithium by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company's stock valued at $288,000 after acquiring an additional 1,878 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Piedmont Lithium by 31.9% during the 4th quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company's stock valued at $85,000 after acquiring an additional 2,348 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Piedmont Lithium during the 4th quarter valued at $33,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Lithium Stock Down 2.7%

Shares of NASDAQ PLL traded down $0.17 during mid-day trading on Thursday, reaching $6.15. The company had a trading volume of 129,416 shares, compared to its average volume of 508,733. Piedmont Lithium Inc. has a twelve month low of $5.15 and a twelve month high of $15.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 2.23. The stock has a market capitalization of $134.97 million, a PE ratio of -1.85 and a beta of 0.29. The stock's 50 day moving average is $6.68 and its 200-day moving average is $8.19.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.21). Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $36.34 million. As a group, equities analysts anticipate that Piedmont Lithium Inc. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price objective on Piedmont Lithium from $13.00 to $8.25 and set a "neutral" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.75.

Piedmont Lithium 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.