Piedmont Lithium Inc. (NASDAQ:PLL) Given Average Recommendation of “Hold” by Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been given an average rating of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $12.75.

Separately, Roth Mkm cut their price objective 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.

Piedmont Lithium Trading Down 1.9%

NASDAQ:PLL opened at $6.56 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 12 month low of $5.15 and a 12 month high of $16.43. The company has a market cap of $143.97 million, a PE ratio of -1.98 and a beta of 0.42. The company has a 50 day simple moving average of $6.85 and a two-hundred day simple moving average of $8.77.

Piedmont Lithium (NASDAQ:PLL) last posted its earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $36.34 million. Research analysts forecast that Piedmont Lithium will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Piedmont Lithium

A number of hedge funds have recently modified their holdings of PLL. Jones Financial Companies Lllp boosted its holdings in Piedmont Lithium by 4,065.3% in the 1st quarter. Jones Financial Companies Lllp now owns 9,955 shares of the mineral exploration company’s stock worth $63,000 after buying an additional 9,716 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Piedmont Lithium by 50.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,226 shares of the mineral exploration company’s stock worth $159,000 after buying an additional 8,472 shares during the period. American Century Companies Inc. boosted its holdings in Piedmont Lithium by 90.0% in the 1st quarter. American Century Companies Inc. now owns 23,795 shares of the mineral exploration company’s stock worth $150,000 after buying an additional 11,270 shares during the period. Eagle Global Advisors LLC bought a new position in Piedmont Lithium in the 1st quarter worth $89,000. Finally, Nuveen LLC bought a new position in Piedmont Lithium in the 1st quarter worth $513,000. Institutional investors 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.