Piedmont Lithium Inc. (NASDAQ:PLL) Given Consensus Rating of “Hold” by Analysts

Piedmont Lithium Inc. (NASDAQ:PLL) has received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.63.

A number of research analysts have recently commented on PLL shares. 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 upped their target price 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 cut their target price on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th.

Piedmont Lithium Trading Down 8.9 %

Shares of NASDAQ PLL opened at $6.47 on Tuesday. The business’s 50 day moving average is $8.57 and its two-hundred day moving average is $9.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. Piedmont Lithium has a 1-year low of $6.32 and a 1-year high of $17.66. The stock has a market capitalization of $141.98 million, a P/E ratio of -1.95 and a beta of 0.78.

Piedmont Lithium (NASDAQ:PLL) last released its earnings results 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). The business had revenue of $45.59 million for 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%. As a group, research analysts expect that Piedmont Lithium will post -0.91 EPS for the current year.

Insider Activity at Piedmont Lithium

In related news, CEO Keith D. Phillips sold 41,867 shares of the business’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 value of $515,382.77. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.81% of the stock is owned by company insiders.

Institutional Trading of Piedmont Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of PLL. Point72 Asset Management L.P. boosted its position in Piedmont Lithium by 187.8% during the 4th quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,622,000 after acquiring an additional 195,756 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Piedmont Lithium during the 4th quarter valued at $483,000. Quinn Opportunity Partners LLC bought a new stake in Piedmont Lithium during the 4th quarter valued at $304,000. Millennium Management LLC bought a new stake in Piedmont Lithium during the 4th quarter valued at $240,000. Finally, Quest Partners LLC boosted its position in Piedmont Lithium by 708.5% during the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after acquiring an additional 27,194 shares in the last quarter. Institutional investors own 52.23% of the company’s stock.

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.