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

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $67.00.

Several equities analysts have commented on the stock. DA Davidson reissued a “buy” rating and issued a $60.00 target price on shares of Piedmont Lithium in a report on Tuesday, April 16th. TD Cowen downgraded Piedmont Lithium from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $55.00 to $20.00 in a report on Monday, January 29th. BMO Capital Markets lifted their price target on Piedmont Lithium from $20.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. reduced their price objective on Piedmont Lithium from $25.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Finally, BTIG Research downgraded Piedmont Lithium from a “buy” rating to a “neutral” rating in a research note on Friday, February 23rd.

Piedmont Lithium Price Performance

Shares of NASDAQ PLL opened at $14.50 on Friday. The firm has a market cap of $280.85 million, a price-to-earnings ratio of -7.63 and a beta of 0.77. The stock’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $18.51. Piedmont Lithium has a one year low of $10.82 and a one year high of $65.72.

Piedmont Lithium (NASDAQ:PLL) last posted its quarterly earnings data on Thursday, February 22nd. The mineral exploration company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($1.61). The business had revenue of ($7.31) million for the quarter, compared to analysts’ expectations of $32.76 million. On average, equities analysts anticipate that Piedmont Lithium will post 0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank lifted its holdings in shares of Piedmont Lithium by 1.0% in the 3rd quarter. Swiss National Bank now owns 40,100 shares of the mineral exploration company’s stock worth $1,592,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Piedmont Lithium by 66.6% during the first quarter. GAMMA Investing LLC now owns 1,992 shares of the mineral exploration company’s stock valued at $27,000 after buying an additional 796 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Piedmont Lithium during the fourth quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Piedmont Lithium by 48.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,210 shares of the mineral exploration company’s stock worth $127,000 after acquiring an additional 1,044 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Piedmont Lithium by 0.3% in the 4th 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. 52.23% of the stock is owned by institutional investors.

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.