Piedmont Lithium (NASDAQ:PLL) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Piedmont Lithium Inc. - Sponsored ADR (NASDAQ:PLL - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.15 and traded as high as $7.83. Piedmont Lithium shares last traded at $7.26, with a volume of 497,373 shares trading hands.

Piedmont Lithium Stock Performance

The firm's 50 day moving average price is $6.64 and its two-hundred day moving average price is $7.15. The firm has a market cap of $159.80 million, a PE ratio of -2.59 and a beta of 0.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.15 and a current ratio of 2.15.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.21). Piedmont Lithium had a negative return on equity of 19.46% and a negative net margin of 53.33%. The business had revenue of $20.00 million for the quarter, compared to analyst estimates of $36.34 million. On average, research analysts forecast that Piedmont Lithium Inc. - Sponsored ADR will post -0.91 earnings per share for the current year.

Institutional Trading of Piedmont Lithium

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Piedmont Lithium in the fourth quarter worth approximately $98,000. American Century Companies Inc. bought a new stake in shares of Piedmont Lithium during the 4th quarter worth approximately $109,000. JPMorgan Chase & Co. grew its holdings in Piedmont Lithium by 6.0% in the 4th quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company's stock valued at $288,000 after buying an additional 1,878 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Piedmont Lithium by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 413,366 shares of the mineral exploration company's stock valued at $3,614,000 after buying an additional 4,505 shares during the period. Finally, Quinn Opportunity Partners LLC bought a new stake in Piedmont Lithium in the fourth quarter worth approximately $304,000. 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.