Piedmont Lithium Inc. (NASDAQ:PLL) Receives Average Recommendation of "Hold" from Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) have earned a consensus recommendation of "Hold" from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.75.

Separately, Roth Mkm lowered their price objective 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 Price Performance

Shares of PLL stock traded down $0.14 on Friday, hitting $7.18. 171,055 shares of the company's stock were exchanged, compared to its average volume of 529,680. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. Piedmont Lithium has a 12 month low of $5.15 and a 12 month high of $16.59. The stock has a market cap of $157.56 million, a P/E ratio of -2.16 and a beta of 0.42. The company has a 50 day moving average of $6.89 and a 200 day moving average of $8.92.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share 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 for the quarter, compared to the consensus estimate of $36.34 million. On average, equities research analysts predict that Piedmont Lithium will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Piedmont Lithium

Several institutional investors and hedge funds have recently made changes to their positions in PLL. BNP Paribas Financial Markets bought a new position in Piedmont Lithium during the fourth quarter worth $33,000. GAMMA Investing LLC increased its stake in Piedmont Lithium by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company's stock valued at $34,000 after purchasing an additional 1,550 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Piedmont Lithium in the 4th quarter worth about $41,000. Deutsche Bank AG lifted its position 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 valued at $85,000 after acquiring an additional 2,348 shares in the last quarter. Finally, Eagle Global Advisors LLC acquired a new position in Piedmont Lithium during the 1st quarter valued at about $89,000. Institutional investors and hedge funds 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.