Susquehanna Fundamental Investments LLC Makes New $483,000 Investment in Piedmont Lithium Inc. (NASDAQ:PLL)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 55,306 shares of the mineral exploration company's stock, valued at approximately $483,000. Susquehanna Fundamental Investments LLC owned 0.28% of Piedmont Lithium at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in Piedmont Lithium by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 413,366 shares of the mineral exploration company's stock worth $3,614,000 after acquiring an additional 4,505 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Piedmont Lithium by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company's stock valued at $613,000 after acquiring an additional 1,855 shares in the last quarter. Quinn Opportunity Partners LLC purchased a new position in Piedmont Lithium during the fourth quarter worth about $304,000. Barclays PLC lifted its position in Piedmont Lithium by 104.9% in the third quarter. Barclays PLC now owns 34,322 shares of the mineral exploration company's stock valued at $307,000 after purchasing an additional 17,569 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Piedmont Lithium by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company's stock worth $288,000 after purchasing an additional 1,878 shares during the period. Institutional investors and hedge funds own 52.23% of the company's stock.

Piedmont Lithium Trading Up 2.0 %

NASDAQ PLL traded up $0.15 during mid-day trading on Friday, hitting $7.47. The company's stock had a trading volume of 73,326 shares, compared to its average volume of 279,215. The stock's fifty day simple moving average is $6.87 and its two-hundred day simple moving average is $9.03. Piedmont Lithium Inc. has a 52-week low of $5.15 and a 52-week high of $16.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. The firm has a market capitalization of $163.92 million, a P/E ratio of -2.25 and a beta of 0.42.

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

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced 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 note on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Piedmont Lithium presently has a consensus rating of "Hold" and a consensus target price of $12.75.

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.