Piedmont Lithium Inc. (NASDAQ:PLL) Receives $22.26 Consensus PT from Brokerages

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been given an average rating of “Hold” by the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.26.

PLL has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. BMO Capital Markets upped their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Roth Mkm reiterated a “buy” rating and set a $31.00 price target (down previously from $40.00) on shares of Piedmont Lithium in a report on Wednesday, October 30th. Macquarie lowered Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price for the company. in a research report on Wednesday, October 16th. Finally, B. Riley reduced their price target on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Piedmont Lithium Stock Up 4.9 %

PLL opened at $12.25 on Friday. Piedmont Lithium has a 1-year low of $6.57 and a 1-year high of $31.82. The stock has a market cap of $238.12 million, a PE ratio of -3.00 and a beta of 0.74. The stock’s fifty day simple moving average is $11.15 and its 200 day simple moving average is $10.93. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Piedmont Lithium

Several large investors have recently modified their holdings of PLL. Headlands Technologies LLC bought a new position in shares of Piedmont Lithium in the 1st quarter worth approximately $25,000. National Bank of Canada FI grew its holdings in Piedmont Lithium by 2,095.4% during the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after purchasing an additional 2,724 shares during the period. FMR LLC raised its stake in shares of Piedmont Lithium by 38.7% in the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after buying an additional 936 shares during the period. Point72 DIFC Ltd bought a new position in shares of Piedmont Lithium during the 2nd quarter valued at approximately $47,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Piedmont Lithium during the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 52.23% of the company’s stock.

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.