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

Piedmont Lithium Inc. (NASDAQ:PLL) has earned a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.63.

A number of research firms recently commented on PLL. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Roth Mkm reduced their price objective on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, BMO Capital Markets upped their target price on shares of Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, November 29th.

Piedmont Lithium Price Performance

NASDAQ PLL opened at $6.99 on Friday. The business’s fifty day moving average is $7.97 and its 200 day moving average is $9.76. Piedmont Lithium has a fifty-two week low of $6.26 and a fifty-two 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. The company has a market capitalization of $153.39 million, a PE ratio of -2.11 and a beta of 0.76.

Piedmont Lithium (NASDAQ:PLL) last posted its quarterly earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share 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 firm had revenue of $45.59 million during the quarter, compared to the consensus estimate of $52.60 million. Sell-side analysts predict that Piedmont Lithium will post -0.91 earnings per share for the current year.

Institutional Trading of Piedmont Lithium

Large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Piedmont Lithium by 16.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,739 shares of the mineral exploration company’s stock valued at $111,000 after acquiring an additional 1,782 shares during the last quarter. Two Sigma Investments LP lifted its position in Piedmont Lithium by 108.1% during the fourth quarter. Two Sigma Investments LP now owns 25,027 shares of the mineral exploration company’s stock valued at $219,000 after purchasing an additional 13,000 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Piedmont Lithium by 187.8% during 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 purchased a new position in shares of Piedmont Lithium in the 4th quarter worth $240,000. Finally, Deutsche Bank AG increased its holdings in shares of Piedmont Lithium by 31.9% in the 4th quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company’s stock worth $85,000 after buying an additional 2,348 shares during the last quarter. Institutional investors 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.