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

Key Points

• Piedmont Lithium Inc. shares have crossed above their 200-day moving average of $7.17, trading as high as $9.03 before settling at $8.72.
• The company reported a quarterly loss of ($0.44) EPS, missing analysts' estimates and generating $11.86 million in revenue, below expectations of $16.03 million.
• Institutional investors control 52.23% of Piedmont Lithium's stock, with notable recent stakes acquired by Deutsche Bank AG and Jones Financial Companies Lllp.

Piedmont Lithium Inc. - Sponsored ADR (NASDAQ:PLL - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.17 and traded as high as $9.03. Piedmont Lithium shares last traded at $8.72, with a volume of 375,341 shares changing hands.

Piedmont Lithium Stock Down 8.0%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market capitalization of $160.78 million, a P/E ratio of -2.86 and a beta of 0.32. The stock has a fifty day moving average price of $7.82 and a two-hundred day moving average price of $7.14.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The mineral exploration company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.08). Piedmont Lithium had a negative net margin of 50.60% and a negative return on equity of 18.57%. The firm had revenue of $11.86 million during the quarter, compared to the consensus estimate of $16.03 million. Research analysts forecast that Piedmont Lithium Inc. - Sponsored ADR will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLL. BNP Paribas Financial Markets bought a new position in Piedmont Lithium during the 4th quarter worth $33,000. Cubist Systematic Strategies LLC bought a new position in Piedmont Lithium during the 4th quarter worth $41,000. Atria Wealth Solutions Inc. bought a new position in Piedmont Lithium during the 2nd quarter worth $60,000. 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 worth $63,000 after buying an additional 9,716 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Piedmont Lithium by 31.9% in the fourth quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company's stock worth $85,000 after purchasing an additional 2,348 shares in the last quarter. 52.23% of the stock is currently owned by institutional investors.

About Piedmont Lithium

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.