Susquehanna Fundamental Investments LLC Acquires New Position in Piedmont Lithium Inc. (NASDAQ:PLL)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,306 shares of the mineral exploration company's stock, valued at approximately $483,000. Susquehanna Fundamental Investments LLC owned about 0.28% of Piedmont Lithium as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 1,550 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Piedmont Lithium in the 4th quarter valued at about $91,000. Raymond James Financial Inc. bought a new position in Piedmont Lithium during the fourth quarter worth about $98,000. Mariner LLC raised its position in shares of Piedmont Lithium by 12.0% in the fourth quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company's stock valued at $107,000 after purchasing an additional 1,313 shares during the period. Finally, American Century Companies Inc. bought a new position in Piedmont Lithium in the 4th quarter worth approximately $109,000. 52.23% of the stock is owned by hedge funds and other institutional investors.

Piedmont Lithium Price Performance

Shares of PLL traded down $0.34 during midday trading on Wednesday, reaching $7.11. The stock had a trading volume of 152,177 shares, compared to its average volume of 531,063. The company has a market capitalization of $156.02 million, a price-to-earnings ratio of -2.14 and a beta of 0.42. 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 Inc. has a 12-month low of $5.15 and a 12-month high of $16.59. The company's 50-day moving average is $6.86 and its 200 day moving average is $9.06.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.25). Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. On average, equities analysts predict that Piedmont Lithium Inc. will post -0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their price objective on Piedmont Lithium from $13.00 to $8.25 and set a "neutral" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, 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.