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

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment 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 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.63.

A number of equities analysts have recently commented on PLL shares. Roth Mkm reduced their price objective on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating for the company in a research note on Friday. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets upped their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research note on Friday, November 29th.

Piedmont Lithium Stock Down 2.3 %

Shares of Piedmont Lithium stock opened at $7.96 on Tuesday. The firm has a market cap of $154.74 million, a PE ratio of -2.40 and a beta of 0.78. The business’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $9.90. 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 has a 52-week low of $6.57 and a 52-week high of $17.66.

Piedmont Lithium (NASDAQ:PLL) last announced its quarterly earnings data on Thursday, February 20th. The mineral exploration company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. The business had revenue of $45.59 million during the quarter, compared to the consensus estimate of $52.60 million. On average, analysts predict that Piedmont Lithium will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Piedmont Lithium

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total value of $515,382.77. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.81% of the company’s stock.

Institutional Trading of Piedmont Lithium

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP raised its holdings in Piedmont Lithium by 108.1% in the 4th quarter. Two Sigma Investments LP now owns 25,027 shares of the mineral exploration company’s stock valued at $219,000 after acquiring an additional 13,000 shares during the period. Point72 Asset Management L.P. grew its position in shares of Piedmont Lithium by 187.8% in the fourth quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,622,000 after purchasing an additional 195,756 shares during the last quarter. Millennium Management LLC bought a new position in shares of Piedmont Lithium during the fourth quarter worth approximately $240,000. Deutsche Bank AG lifted its holdings in Piedmont Lithium by 31.9% during the 4th 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 during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Piedmont Lithium during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

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.