Piedmont Lithium (NASDAQ:PLL) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Piedmont Lithium (NASDAQ:PLL) from a hold rating to a sell rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “Piedmont Lithium Ltd is a mineral resource company. It engages in the identification, acquisition, exploration and development of resource projects primarily in Australia. Piedmont Lithium Ltd is based in Perth, Australia. “

Other research analysts have also recently issued research reports about the stock. Roth Capital dropped their target price on shares of Piedmont Lithium from $28.00 to $20.00 and set a buy rating for the company in a report on Wednesday, May 27th. ValuEngine upgraded shares of Piedmont Lithium from a hold rating to a buy rating in a report on Tuesday, June 9th.

Shares of Piedmont Lithium stock opened at $5.61 on Friday. The company has a market capitalization of $37.45 million, a price-to-earnings ratio of -3.55 and a beta of 1.89. Piedmont Lithium has a 12-month low of $4.00 and a 12-month high of $11.75. The firm’s 50-day moving average price is $7.00 and its two-hundred day moving average price is $7.15.

Piedmont Lithium Company Profile

Piedmont Lithium Limited engages in the exploration and development of mineral properties in the United States. It primarily holds a 100% interest in the Piedmont lithium project covering a landholding of 1,092 acres in the Carolina Lithium Belt, North Carolina. The company was formerly known as WCP Resources Limited and changed its name to Piedmont Lithium Limited in August 2017.

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