Brokerages Set Piedmont Lithium Inc. (NASDAQ:PLL) PT at $12.75

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.75.

Separately, Roth Mkm dropped their price target on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating for the company in a report on Friday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLL. Mariner LLC increased its holdings in Piedmont Lithium by 12.0% in the 4th quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company’s stock valued at $107,000 after buying an additional 1,313 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Piedmont Lithium by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock worth $34,000 after acquiring an additional 1,550 shares during the period. 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 worth $111,000 after acquiring an additional 1,782 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Piedmont Lithium by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company’s stock valued at $613,000 after acquiring an additional 1,855 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Piedmont Lithium by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company’s stock valued at $288,000 after purchasing an additional 1,878 shares in the last quarter. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Price Performance

Shares of PLL opened at $7.03 on Friday. The firm has a market capitalization of $154.27 million, a PE ratio of -2.12 and a beta of 0.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. The company’s 50-day moving average is $6.89 and its 200-day moving average is $8.91. Piedmont Lithium has a fifty-two week low of $5.15 and a fifty-two week high of $16.59.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.21). Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $36.34 million. Equities analysts forecast that Piedmont Lithium will post -0.91 EPS for the current year.

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.