Piedmont Lithium (NASDAQ:PLL) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Piedmont Lithium's stock price surpassed its 200-day moving average for the first time recently, reaching a high of $9.27, although it currently trades at $9.19.
• The company reported a loss of $0.44 per share in its latest quarterly earnings, which was worse than the expected loss of $0.36, alongside revenues that fell short of projections.
• Institutional investors hold 52.23% of Piedmont Lithium's stock, with notable increases in holdings from hedge funds such as Mariner LLC and Deutsche Bank AG.

Shares of Piedmont Lithium Inc. - Sponsored ADR (NASDAQ:PLL - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.13 and traded as high as $9.27. Piedmont Lithium shares last traded at $9.19, with a volume of 804,453 shares changing hands.

Piedmont Lithium Trading Up 1.2%

The stock has a market capitalization of $202.12 million, a price-to-earnings ratio of -3.60 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.81 and a quick ratio of 1.81. The business's 50-day simple moving average is $7.51 and its two-hundred day simple moving average is $7.16.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last announced 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). The business had revenue of $11.86 million for the quarter, compared to analyst estimates of $16.03 million. Piedmont Lithium had a negative net margin of 50.60% and a negative return on equity of 18.57%. On average, research analysts anticipate that Piedmont Lithium Inc. - Sponsored ADR will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Mariner LLC lifted 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 purchasing an additional 1,313 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Piedmont Lithium by 16.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,739 shares of the mineral exploration company's stock worth $111,000 after purchasing an additional 1,782 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Piedmont Lithium by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company's stock worth $288,000 after purchasing an additional 1,878 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Piedmont Lithium by 8.2% during the second quarter. American Century Companies Inc. now owns 25,753 shares of the mineral exploration company's stock worth $150,000 after purchasing an additional 1,958 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Piedmont Lithium by 31.9% during 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 owned by institutional investors and hedge funds.

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.