Piedmont Lithium Inc. (NASDAQ:PLL) Receives Average Rating of “Hold” from Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.63.

A number of brokerages recently weighed in on PLL. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. BMO Capital Markets raised their price target on shares of Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a report on Friday, November 29th. Finally, Roth Mkm cut their target price on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday, February 21st.

Piedmont Lithium Stock Down 0.6 %

Shares of Piedmont Lithium stock opened at $6.78 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. The stock has a market cap of $148.78 million, a price-to-earnings ratio of -2.04 and a beta of 0.76. The firm’s 50-day moving average is $7.88 and its two-hundred day moving average is $9.74. Piedmont Lithium has a 1 year low of $6.26 and a 1 year high of $17.66.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings data on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The business had revenue of $45.59 million for the quarter, compared to the consensus estimate of $52.60 million. Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. As a group, research analysts expect that Piedmont Lithium will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Piedmont Lithium

Several large investors have recently made changes to their positions in the business. Quest Partners LLC lifted its holdings in shares of Piedmont Lithium by 708.5% in the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after buying an additional 27,194 shares during the period. Charles Schwab Investment Management Inc. raised its position in Piedmont Lithium by 15.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock valued at $1,383,000 after acquiring an additional 20,481 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Piedmont Lithium by 53.0% in the third quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company’s stock valued at $223,000 after acquiring an additional 8,643 shares during the period. FMR LLC lifted its holdings in Piedmont Lithium by 38.7% in the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after acquiring an additional 936 shares during the period. Finally, HITE Hedge Asset Management LLC boosted its position in Piedmont Lithium by 2.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after purchasing an additional 4,345 shares in the last quarter. 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.