Piedmont Lithium (NASDAQ:PLL) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Shares of Piedmont Lithium Inc. - Sponsored ADR (NASDAQ:PLL - Get Free Report) 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 changing hands.

Piedmont Lithium Stock Performance

The stock has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $7.13. The stock has a market cap of $159.58 million, a price-to-earnings ratio of -2.59 and a beta of 0.26. 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 issued its 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). The business had revenue of $20.00 million during the quarter, compared to analyst estimates of $36.34 million. Piedmont Lithium had a negative net margin of 53.33% and a negative return on equity of 19.46%. Analysts expect that Piedmont Lithium Inc. - Sponsored ADR will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Piedmont Lithium

Several hedge funds have recently modified their holdings of the company. Mariner LLC boosted its holdings in shares of Piedmont Lithium by 12.0% during the 4th quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company's stock valued at $107,000 after acquiring an additional 1,313 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Piedmont Lithium by 16.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,739 shares of the mineral exploration company's stock worth $111,000 after buying an additional 1,782 shares during the period. JPMorgan Chase & Co. lifted its holdings in Piedmont Lithium by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company's stock worth $288,000 after buying an additional 1,878 shares during the period. Deutsche Bank AG lifted its holdings in Piedmont Lithium by 31.9% during the 4th quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company's stock worth $85,000 after buying an additional 2,348 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Piedmont Lithium during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 52.23% of the company's stock.

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.