Piedmont Lithium (NASDAQ:PLL) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Piedmont Lithium Inc. – Sponsored ADR (NASDAQ:PLL) 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.

Piedmont Lithium Price Performance

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 firm has a market cap of $159.36 million, a PE ratio of -2.58 and a beta of 0.27. The stock has a 50 day simple moving average of $6.41 and a 200-day simple moving average of $7.28.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly 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). The business had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $36.34 million. Piedmont Lithium had a negative return on equity of 19.46% and a negative net margin of 53.33%. Equities analysts anticipate that Piedmont Lithium Inc. – Sponsored ADR will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piedmont Lithium

Several institutional investors have recently bought and sold shares of PLL. BNP Paribas Financial Markets purchased a new position in Piedmont Lithium during the fourth quarter valued at $33,000. Cubist Systematic Strategies LLC purchased a new position in Piedmont Lithium during the fourth quarter valued at $41,000. Jones Financial Companies Lllp grew its stake in Piedmont Lithium by 4,065.3% during the first quarter. Jones Financial Companies Lllp now owns 9,955 shares of the mineral exploration company’s stock valued at $63,000 after acquiring an additional 9,716 shares in the last quarter. Deutsche Bank AG grew its stake in Piedmont Lithium by 31.9% during the fourth quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company’s stock valued at $85,000 after acquiring an additional 2,348 shares in the last quarter. Finally, Eagle Global Advisors LLC bought a new position in Piedmont Lithium during the first quarter valued at $89,000. 52.23% of the stock is owned by hedge funds and other 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.