Piedmont Lithium Inc. (NASDAQ:PLL) Receives $20.63 Consensus PT from Analysts

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.63.

Several research analysts have issued reports on PLL shares. Roth Mkm reduced their price objective on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a report on Friday, February 21st. BMO Capital Markets boosted their target price on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, November 29th. Finally, Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th.

Piedmont Lithium Stock Performance

Piedmont Lithium stock opened at $6.65 on Friday. Piedmont Lithium has a 12-month low of $6.26 and a 12-month high of $17.66. The stock has a 50-day simple moving average of $7.78 and a 200 day simple moving average of $9.72. The company has a quick ratio of 1.99, a current ratio of 2.23 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $145.93 million, a price-to-earnings ratio of -2.00 and a beta of 0.76.

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

Institutional Trading of Piedmont Lithium

A number of large investors have recently bought and sold shares of PLL. GAMMA Investing LLC raised its stake in shares of Piedmont Lithium by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock valued at $34,000 after purchasing an additional 1,550 shares during the period. Barclays PLC grew its holdings in shares of Piedmont Lithium by 104.9% during the third quarter. Barclays PLC now owns 34,322 shares of the mineral exploration company’s stock worth $307,000 after buying an additional 17,569 shares in the last quarter. Bank of New York Mellon Corp raised its position in Piedmont Lithium by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company’s stock valued at $613,000 after buying an additional 1,855 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Piedmont Lithium in the 4th quarter valued at approximately $91,000. Finally, JPMorgan Chase & Co. boosted its position in Piedmont Lithium by 23.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company’s stock worth $277,000 after acquiring an additional 5,831 shares during the last quarter. 52.23% of the stock is owned by 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.