Analysts Set Piedmont Lithium Inc. (NASDAQ:PLL) PT at $12.75

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have received an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.75.

Separately, Roth Mkm dropped their price target on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating for the company in a research note on Friday, February 21st.

Piedmont Lithium Price Performance

PLL stock opened at $6.69 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $6.86 and its two-hundred day moving average price is $8.85. The stock has a market capitalization of $146.82 million, a price-to-earnings ratio of -2.02 and a beta of 0.42. Piedmont Lithium has a 12-month low of $5.15 and a 12-month high of $16.59.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.21). The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $36.34 million. Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. As a group, equities analysts predict that Piedmont Lithium will post -0.91 earnings per share for the current year.

Institutional Trading of Piedmont Lithium

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of Piedmont Lithium in the 4th quarter worth approximately $33,000. GAMMA Investing LLC boosted its position in shares of Piedmont Lithium by 65.8% during the fourth 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Piedmont Lithium in the fourth quarter worth $41,000. Deutsche Bank AG raised its holdings in Piedmont Lithium by 31.9% in the fourth quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company’s stock worth $85,000 after purchasing an additional 2,348 shares in the last quarter. Finally, Eagle Global Advisors LLC purchased a new position in Piedmont Lithium during the first quarter valued at $89,000. 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.