Piedmont Lithium Inc. (NASDAQ:PLL) Receives $12.75 Average PT from Brokerages

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.75.

Separately, Roth Mkm reduced their price target on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a report on Friday, February 21st.

Piedmont Lithium Stock Up 5.5 %

Shares of NASDAQ PLL opened at $7.14 on Wednesday. Piedmont Lithium has a 52-week low of $5.15 and a 52-week high of $16.59. The company’s 50-day simple moving average is $6.90 and its 200-day simple moving average is $9.43. 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 firm has a market cap of $156.68 million, a price-to-earnings ratio of -2.15 and a beta of 0.55.

Piedmont Lithium (NASDAQ:PLL) last released its earnings results 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). Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. The business had revenue of $45.59 million for the quarter, compared to analysts’ expectations of $52.60 million. Equities analysts predict that Piedmont Lithium will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in Piedmont Lithium by 187.8% in the 4th quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,622,000 after buying an additional 195,756 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Piedmont Lithium during the fourth quarter worth approximately $483,000. Quinn Opportunity Partners LLC acquired a new position in Piedmont Lithium in the fourth quarter valued at $304,000. Millennium Management LLC purchased a new stake in Piedmont Lithium during the 4th quarter valued at approximately $240,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $1,383,000 after purchasing an additional 20,481 shares during the period. 52.23% of the stock is currently owned by institutional investors and hedge funds.

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.