Piedmont Lithium Inc. (NASDAQ:PLL) Given Consensus Rating of “Hold” by Brokerages

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been assigned an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.75.

Separately, Roth Mkm cut 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.

Piedmont Lithium Stock Down 4.4 %

PLL stock opened at $6.57 on Wednesday. Piedmont Lithium has a fifty-two week low of $5.15 and a fifty-two week high of $16.59. The stock has a market cap of $144.17 million, a PE ratio of -1.98 and a beta of 0.55. The firm’s 50-day simple moving average is $6.96 and its 200 day simple moving average is $9.48. The company has a quick ratio of 1.99, a current ratio of 2.23 and a debt-to-equity ratio of 0.01.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $52.60 million. As a group, sell-side analysts predict that Piedmont Lithium will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Piedmont Lithium

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Piedmont Lithium by 324.9% in the first quarter. GAMMA Investing LLC now owns 16,601 shares of the mineral exploration company’s stock worth $105,000 after buying an additional 12,694 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Piedmont Lithium by 16.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,739 shares of the mineral exploration company’s stock valued at $111,000 after acquiring an additional 1,782 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Piedmont Lithium by 108.1% in the 4th quarter. Two Sigma Investments LP now owns 25,027 shares of the mineral exploration company’s stock valued at $219,000 after buying an additional 13,000 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Piedmont Lithium by 187.8% during the fourth quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,622,000 after purchasing an additional 195,756 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Piedmont Lithium during the fourth quarter valued at $240,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

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.