Piedmont Lithium Inc. (NASDAQ:PLL) Receives $20.63 Consensus Target Price from Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) have earned a consensus recommendation of "Hold" from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.63.

Several brokerages recently commented on PLL. Roth Mkm lowered their price target on Piedmont Lithium from $13.00 to $8.25 and set a "neutral" rating for the company in a research note on Friday, February 21st. Macquarie raised shares of Piedmont Lithium from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, BMO Capital Markets increased their price target 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 Trading Down 2.4 %

NASDAQ PLL traded down $0.17 on Friday, hitting $6.82. 161,729 shares of the stock were exchanged, compared to its average volume of 601,998. The company's 50-day moving average price is $7.97 and its two-hundred day moving average price is $9.76. The company has a market capitalization of $149.66 million, a price-to-earnings ratio of -2.05 and a beta of 0.76. Piedmont Lithium has a 52-week low of $6.26 and a 52-week high of $17.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99.

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Piedmont Lithium (NASDAQ:PLL - Get Free Report) last released its earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.12). Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. The business had revenue of $45.59 million for the quarter, compared to analysts' expectations of $52.60 million. Research analysts predict that Piedmont Lithium will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Piedmont Lithium

Several large investors have recently made changes to their positions in the company. FMR LLC lifted its position in Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company's stock valued at $30,000 after purchasing an additional 936 shares during the period. Mariner LLC lifted its stake in shares of 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 purchasing an additional 1,313 shares during the period. GAMMA Investing LLC boosted its position in shares of Piedmont Lithium by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company's stock worth $34,000 after purchasing an additional 1,550 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Piedmont Lithium by 16.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,739 shares of the mineral exploration company's stock worth $111,000 after purchasing an additional 1,782 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Piedmont Lithium by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company's stock worth $613,000 after purchasing an additional 1,855 shares during the period. Institutional investors and hedge funds 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.