Invesco Ltd. Has $4.59 Million Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Invesco Ltd. trimmed its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) by 26.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 524,954 shares of the mineral exploration company's stock after selling 188,833 shares during the period. Invesco Ltd. owned approximately 2.70% of Piedmont Lithium worth $4,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PLL. GAMMA Investing LLC boosted its position in Piedmont Lithium by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company's stock valued at $34,000 after purchasing an additional 1,550 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Piedmont Lithium by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company's stock valued at $613,000 after buying an additional 1,855 shares during the last quarter. Barclays PLC increased its holdings in Piedmont Lithium by 104.9% in the third quarter. Barclays PLC now owns 34,322 shares of the mineral exploration company's stock worth $307,000 after buying an additional 17,569 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Piedmont Lithium in the fourth quarter worth approximately $91,000. Finally, JPMorgan Chase & Co. raised its position in Piedmont Lithium by 23.1% during the third quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company's stock valued at $277,000 after acquiring an additional 5,831 shares in the last quarter. 52.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their target price on shares of Piedmont Lithium from $13.00 to $8.25 and set a "neutral" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $12.75.

Piedmont Lithium Stock Performance

Piedmont Lithium stock traded down $0.29 during trading hours on Monday, reaching $8.18. 240,142 shares of the company were exchanged, compared to its average volume of 539,580. Piedmont Lithium Inc. has a 12 month low of $5.15 and a 12 month high of $16.59. The firm has a market cap of $179.50 million, a price-to-earnings ratio of -2.46 and a beta of 0.55. The company has a current ratio of 2.23, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $6.89 and a 200 day moving average of $9.24.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last posted its earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.12). The firm had revenue of $45.59 million during the quarter, compared to analyst estimates 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 anticipate that Piedmont Lithium Inc. will post -0.91 earnings per share 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.