Analysts Set Piedmont Lithium Inc. (NASDAQ:PLL) PT at $20.63

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.63.

A number of equities research analysts recently weighed in on the stock. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. BMO Capital Markets lifted their price objective on shares of Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a research note on Friday, November 29th. Roth Mkm dropped their price target on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, Roth Capital cut shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

Insiders Place Their Bets

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the sale, the chief executive officer now owns 170,616 shares in the company, valued at approximately $2,100,282.96. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.81% of the company’s stock.

Institutional Trading of Piedmont Lithium

Several institutional investors and hedge funds have recently bought and sold shares of PLL. National Bank of Canada FI raised its holdings in Piedmont Lithium by 2,095.4% during the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock worth $25,000 after buying an additional 2,724 shares during the period. FMR LLC grew its stake in Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after acquiring an additional 936 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Piedmont Lithium during the 4th quarter valued at about $33,000. GAMMA Investing LLC grew its stake in Piedmont Lithium by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock valued at $34,000 after acquiring an additional 1,550 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Piedmont Lithium during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Price Performance

Shares of NASDAQ PLL opened at $7.10 on Tuesday. Piedmont Lithium has a fifty-two week low of $6.57 and a fifty-two week high of $17.66. The firm’s 50-day simple moving average is $8.61 and its 200 day simple moving average is $9.87. 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 cap of $155.80 million, a P/E ratio of -2.14 and a beta of 0.78.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data 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 net margin of 64.84% and a negative return on equity of 17.74%. The company had revenue of $45.59 million for the quarter, compared to the consensus estimate of $52.60 million. Equities analysts expect that Piedmont Lithium will post -0.91 EPS for the current year.

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.