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

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

Several equities research analysts recently commented on the company. Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price target on 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 lowered 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. Finally, Macquarie upgraded Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th.

Piedmont Lithium Trading Down 1.5 %

Shares of NASDAQ PLL opened at $7.10 on Tuesday. The stock has a market cap of $155.80 million, a price-to-earnings ratio of -2.14 and a beta of 0.78. The business has a 50 day simple moving average of $8.61 and a 200 day simple moving average of $9.87. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $17.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 2.23.

Piedmont Lithium (NASDAQ:PLL) last announced 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). The firm had revenue of $45.59 million during the quarter, compared to the consensus estimate of $52.60 million. Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. On average, research analysts predict that Piedmont Lithium will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Keith D. Phillips sold 41,867 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the completion of the transaction, the chief executive officer now directly owns 170,616 shares in the company, valued at $2,100,282.96. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.81% of the company’s stock.

Institutional Trading of Piedmont Lithium

A number of large investors have recently bought and sold shares of the stock. FMR LLC grew its position in Piedmont Lithium by 38.7% in the third 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 during the period. Mariner LLC grew its position in Piedmont Lithium by 12.0% in the fourth quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company’s stock valued at $107,000 after acquiring an additional 1,313 shares during the period. GAMMA Investing LLC grew its position in Piedmont Lithium by 65.8% in the fourth 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 during the period. Bank of New York Mellon Corp grew its holdings in shares of Piedmont Lithium by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company’s stock worth $613,000 after purchasing an additional 1,855 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Piedmont Lithium by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company’s stock worth $288,000 after purchasing an additional 1,878 shares during the last quarter. 52.23% of the stock is currently owned by institutional investors.

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.