15,713 Shares in Piedmont Lithium Inc. (NASDAQ:PLL) Purchased by Thomist Capital Management LP

Thomist Capital Management LP acquired a new position in shares of Piedmont Lithium Inc. (NASDAQ:PLL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,713 shares of the mineral exploration company’s stock, valued at approximately $171,000. Thomist Capital Management LP owned approximately 0.08% of Piedmont Lithium at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Piedmont Lithium by 66.6% in the 1st quarter. GAMMA Investing LLC now owns 1,992 shares of the mineral exploration company’s stock worth $27,000 after purchasing an additional 796 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Piedmont Lithium during the fourth quarter valued at approximately $28,000. Principal Financial Group Inc. increased its position in shares of Piedmont Lithium by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 361,625 shares of the mineral exploration company’s stock valued at $10,209,000 after acquiring an additional 1,232 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Piedmont Lithium by 143.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock worth $73,000 after acquiring an additional 1,521 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Piedmont Lithium in the 1st quarter valued at approximately $25,000. Hedge funds and other institutional investors own 52.23% of the company’s stock.

Piedmont Lithium Trading Up 0.1 %

Piedmont Lithium stock opened at $7.26 on Thursday. Piedmont Lithium Inc. has a 52-week low of $6.57 and a 52-week high of $44.82. The company has a market cap of $140.63 million, a P/E ratio of -3.88 and a beta of 0.80. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $9.02 and a two-hundred day simple moving average of $11.36.

Piedmont Lithium (NASDAQ:PLL) last announced its earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.53). The company had revenue of $13.23 million for the quarter, compared to the consensus estimate of $14.89 million. During the same period last year, the business earned ($0.55) EPS. Analysts predict that Piedmont Lithium Inc. will post -2.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLL shares. Roth Mkm restated a “buy” rating and issued a $40.00 price target (down previously from $61.00) on shares of Piedmont Lithium in a research note on Friday, August 9th. BMO Capital Markets decreased their target price on Piedmont Lithium from $15.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, September 6th. Macquarie reaffirmed a “neutral” rating and set a $9.30 price target on shares of Piedmont Lithium in a report on Monday, August 12th. Finally, B. Riley reduced their price target on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.69.

Piedmont Lithium 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.