Nuveen LLC Buys Shares of 81,377 Piedmont Lithium Inc. - Sponsored ADR $PLL

Key Points

• Nuveen LLC has acquired a new stake in Piedmont Lithium Inc., purchasing 81,377 shares valued at approximately $513,000, representing about 0.37% of the company.
• Piedmont Lithium reported a quarterly loss of ($0.44) EPS, missing estimates, with revenue of $11.86 million compared to the forecast of $16.03 million.
• The stock has shown volatility, having a 1-year low of $5.15 and a high of $15.44, and currently trades at $7.33.

Nuveen LLC acquired a new position in Piedmont Lithium Inc. - Sponsored ADR (NASDAQ:PLL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 81,377 shares of the mineral exploration company's stock, valued at approximately $513,000. Nuveen LLC owned about 0.37% of Piedmont Lithium as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Piedmont Lithium by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 157,742 shares of the mineral exploration company's stock worth $994,000 after acquiring an additional 7,824 shares during the last quarter. Alps Advisors Inc. raised its holdings in Piedmont Lithium by 103.4% in the 1st quarter. Alps Advisors Inc. now owns 33,637 shares of the mineral exploration company's stock worth $212,000 after acquiring an additional 17,097 shares during the last quarter. GAMMA Investing LLC raised its holdings in Piedmont Lithium by 324.9% in the 1st quarter. GAMMA Investing LLC now owns 16,601 shares of the mineral exploration company's stock worth $105,000 after acquiring an additional 12,694 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Piedmont Lithium by 16.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,739 shares of the mineral exploration company's stock worth $111,000 after acquiring an additional 1,782 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Piedmont Lithium by 108.1% in the 4th quarter. Two Sigma Investments LP now owns 25,027 shares of the mineral exploration company's stock worth $219,000 after acquiring an additional 13,000 shares during the last quarter. 52.23% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Lithium Stock Down 8.0%

NASDAQ PLL traded down $0.64 during mid-day trading on Friday, reaching $7.33. The stock had a trading volume of 3,027,677 shares, compared to its average volume of 567,520. Piedmont Lithium Inc. - Sponsored ADR has a 1 year low of $5.15 and a 1 year high of $15.44. The stock has a market cap of $160.78 million, a PE ratio of -2.86 and a beta of 0.32. The company has a fifty day moving average price of $7.91 and a 200 day moving average price of $7.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.81 and a quick ratio of 1.81.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The mineral exploration company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.08). Piedmont Lithium had a negative return on equity of 18.57% and a negative net margin of 50.60%.The firm had revenue of $11.86 million during the quarter, compared to analysts' expectations of $16.03 million. On average, research analysts expect that Piedmont Lithium Inc. - Sponsored ADR will post -0.91 earnings per share for the current year.

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.