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

Piedmont Lithium Inc. - Sponsored ADR (NASDAQ:PLL - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.28 and traded as high as $7.50. Piedmont Lithium shares last traded at $7.26, with a volume of 1,330,791 shares traded.

Piedmont Lithium Trading Down 3.3%

The stock has a market capitalization of $147.50 million, a P/E ratio of -2.39 and a beta of 0.27. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $6.40 and a 200 day moving average price of $7.25.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in Piedmont Lithium during the 4th quarter valued at about $33,000. Cubist Systematic Strategies LLC purchased a new stake in Piedmont Lithium during the 4th quarter valued at about $41,000. Deutsche Bank AG grew its stake 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 valued at $85,000 after purchasing an additional 2,348 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Piedmont Lithium by 4,065.3% during the 1st quarter. Jones Financial Companies Lllp now owns 9,955 shares of the mineral exploration company's stock valued at $63,000 after purchasing an additional 9,716 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Piedmont Lithium during the 4th quarter valued at about $98,000. 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.