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

Piedmont Lithium Inc. (NASDAQ:PLL) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $67.00.

A number of equities analysts have weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $60.00 price target on shares of Piedmont Lithium in a research report on Tuesday, April 16th. BTIG Research downgraded Piedmont Lithium from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets increased their price objective on Piedmont Lithium from $20.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, May 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new stake in Piedmont Lithium in the fourth quarter valued at about $28,000. GAMMA Investing LLC acquired a new stake in Piedmont Lithium in the fourth quarter valued at about $34,000. Headlands Technologies LLC acquired a new stake in Piedmont Lithium in the first quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in Piedmont Lithium in the fourth quarter valued at about $62,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Piedmont Lithium by 143.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock valued at $73,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors own 52.23% of the company’s stock.

Piedmont Lithium Price Performance

Shares of PLL stock opened at $10.14 on Thursday. The stock has a market cap of $196.41 million, a PE ratio of -5.34 and a beta of 0.84. The stock has a 50-day moving average of $13.14 and a 200-day moving average of $16.63. Piedmont Lithium has a one year low of $10.07 and a one year high of $63.17.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data on Thursday, May 9th. The mineral exploration company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The company had revenue of $13.40 million during the quarter, compared to analyst estimates of $13.77 million. As a group, research analysts anticipate that Piedmont Lithium will post 0.02 earnings per share for the current year.

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.