Piedmont Lithium Inc. (NASDAQ:PLL) Receives $12.75 Consensus Target Price from Analysts

Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) has received a consensus rating of "Hold" from the six analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.75.

Separately, Roth Mkm reduced their target price 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.

Piedmont Lithium Stock Down 1.5%

Shares of PLL traded down $0.10 during midday trading on Friday, hitting $6.76. 71,596 shares of the company's stock traded hands, compared to its average volume of 523,676. Piedmont Lithium has a 1 year low of $5.15 and a 1 year high of $16.59. The firm's fifty day moving average is $6.88 and its 200-day moving average is $8.89. 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 market capitalization of $148.35 million, a price-to-earnings ratio of -2.04 and a beta of 0.42.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.21). The firm had revenue of $20.00 million during the quarter, compared to analysts' expectations of $36.34 million. Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. As a group, sell-side analysts anticipate that Piedmont Lithium will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Piedmont Lithium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Piedmont Lithium during the 4th quarter valued at about $33,000. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Piedmont Lithium in the 4th quarter worth approximately $41,000. Deutsche Bank AG lifted its stake in Piedmont Lithium by 31.9% in the 4th quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company's stock worth $85,000 after purchasing an additional 2,348 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Piedmont Lithium during the 4th quarter valued at approximately $91,000. 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.