Bank of New York Mellon Corp Sells 4,496 Shares of Piedmont Lithium Inc. – Sponsored ADR (NASDAQ:PLL)

Bank of New York Mellon Corp trimmed its position in Piedmont Lithium Inc. – Sponsored ADR (NASDAQ:PLL) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,586 shares of the mineral exploration company’s stock after selling 4,496 shares during the period. Bank of New York Mellon Corp owned 0.30% of Piedmont Lithium worth $413,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. increased its position in shares of Piedmont Lithium by 187.8% in the fourth quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,622,000 after acquiring an additional 195,756 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Piedmont Lithium in the fourth quarter worth approximately $483,000. Quinn Opportunity Partners LLC purchased a new position in shares of Piedmont Lithium during the fourth quarter valued at approximately $304,000. Millennium Management LLC purchased a new stake in Piedmont Lithium during the fourth quarter valued at approximately $240,000. Finally, Two Sigma Investments LP increased its holdings in Piedmont Lithium by 108.1% during the fourth quarter. Two Sigma Investments LP now owns 25,027 shares of the mineral exploration company’s stock valued at $219,000 after buying an additional 13,000 shares during the last quarter. 52.23% of the stock is owned by institutional investors.

Piedmont Lithium Price Performance

PLL stock opened at $7.27 on Monday. Piedmont Lithium Inc. – Sponsored ADR has a 52 week low of $5.15 and a 52 week high of $15.44. The firm has a market capitalization of $159.58 million, a P/E ratio of -2.59 and a beta of 0.26. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $7.10.

Piedmont Lithium (NASDAQ:PLL) last posted 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 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%. Analysts anticipate that Piedmont Lithium Inc. – Sponsored ADR will post -0.91 earnings per share for the current fiscal year.

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.