Piedmont Lithium Inc. (NASDAQ:PLL) Receives Consensus Recommendation of "Hold" from Brokerages

Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.75.

Separately, Roth Mkm dropped their price objective on Piedmont Lithium from $13.00 to $8.25 and set a "neutral" rating on the stock in a report on Friday, February 21st.

Piedmont Lithium Stock Performance

Shares of NASDAQ:PLL traded down $0.30 during midday trading on Wednesday, hitting $6.57. The stock had a trading volume of 162,678 shares, compared to its average volume of 546,062. Piedmont Lithium has a 1 year low of $5.15 and a 1 year high of $16.59. 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 price of $6.96 and a two-hundred day moving average price of $9.48. The company has a market capitalization of $144.17 million, a PE ratio of -1.98 and a beta of 0.55.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $45.59 million during the quarter, compared to analysts' expectations 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, equities analysts predict that Piedmont Lithium will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piedmont Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of Piedmont Lithium by 2,095.4% during the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company's stock worth $25,000 after buying an additional 2,724 shares during the last quarter. FMR LLC increased its holdings 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 acquiring an additional 936 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Piedmont Lithium during the 4th quarter valued at about $33,000. GAMMA Investing LLC raised 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 worth $34,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Piedmont Lithium in the fourth quarter valued at about $41,000. 52.23% of the stock is owned by institutional investors and hedge funds.

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.