Piedmont Lithium (NASDAQ:PLL) Price Target Increased to $81.00 by Analysts at Roth Capital

Piedmont Lithium (NASDAQ:PLL) had its target price hoisted by Roth Capital from $39.00 to $81.00 in a research note released on Friday morning, The Fly reports. Roth Capital currently has a buy rating on the mineral exploration company’s stock.

PLL has been the topic of a number of other reports. BTIG Research raised their price objective on Piedmont Lithium from $40.00 to $85.00 in a report on Monday, March 29th. Loop Capital initiated coverage on Piedmont Lithium in a report on Friday, January 22nd. They set a buy rating and a $64.00 price objective on the stock. Zacks Investment Research raised Piedmont Lithium from a hold rating to a buy rating and set a $32.00 price objective on the stock in a report on Wednesday, January 6th. Finally, B. Riley decreased their price objective on Piedmont Lithium from $93.00 to $90.00 and set a buy rating on the stock in a report on Wednesday, March 31st. Five investment analysts have rated the stock with a buy rating, Piedmont Lithium currently has an average rating of Buy and an average target price of $70.40.

NASDAQ:PLL opened at $69.30 on Friday. The business’s 50-day moving average price is $68.28 and its two-hundred day moving average price is $41.79. Piedmont Lithium has a twelve month low of $5.00 and a twelve month high of $88.97. The stock has a market cap of $1.09 billion, a P/E ratio of -101.91 and a beta of 0.54.

A number of institutional investors and hedge funds have recently bought and sold shares of PLL. Graham Capital Management L.P. bought a new stake in shares of Piedmont Lithium in the 4th quarter worth approximately $3,856,000. Morgan Stanley boosted its position in shares of Piedmont Lithium by 323.4% during the third quarter. Morgan Stanley now owns 6,419 shares of the mineral exploration company’s stock valued at $150,000 after purchasing an additional 4,903 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Piedmont Lithium during the fourth quarter valued at approximately $15,930,000. Barclays PLC bought a new stake in shares of Piedmont Lithium during the fourth quarter valued at approximately $186,000. Finally, U S Global Investors Inc. bought a new stake in shares of Piedmont Lithium during the fourth quarter valued at approximately $664,000. Institutional investors and hedge funds own 0.34% of the company’s stock.

Piedmont Lithium Company Profile

Piedmont Lithium Limited engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Piedmont lithium project covering a landholding of 2,126 acres in the North Carolina, the United States. It also owns a 61-acre property in Kings Mountain, North Carolina.

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