Piedmont Lithium Inc. (NASDAQ:PLL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Piedmont Lithium Inc. (NASDAQ:PLLGet Free Report) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $67.00.

A number of equities analysts recently issued reports on PLL shares. DA Davidson reissued a “buy” rating and issued a $60.00 price target on shares of Piedmont Lithium in a research note on Tuesday, April 16th. BMO Capital Markets increased their target price on Piedmont Lithium from $20.00 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th.

View Our Latest Research Report on Piedmont Lithium

Institutional Trading of Piedmont Lithium

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its position in shares of Piedmont Lithium by 1.0% in the 3rd quarter. Swiss National Bank now owns 40,100 shares of the mineral exploration company’s stock worth $1,592,000 after purchasing an additional 400 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Piedmont Lithium in the third quarter worth about $251,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Piedmont Lithium by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,877 shares of the mineral exploration company’s stock worth $5,434,000 after buying an additional 10,243 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Piedmont Lithium during the third quarter valued at approximately $1,019,000. Finally, Invesco Ltd. increased its position in shares of Piedmont Lithium by 11.3% during the third quarter. Invesco Ltd. now owns 570,392 shares of the mineral exploration company’s stock valued at $22,645,000 after acquiring an additional 58,012 shares in the last quarter. Hedge funds and other institutional investors own 52.23% of the company’s stock.

Piedmont Lithium Stock Performance

Shares of PLL stock opened at $9.46 on Thursday. The firm has a market cap of $183.24 million, a P/E ratio of -4.98 and a beta of 0.84. The business’s 50 day moving average price is $12.86 and its 200-day moving average price is $16.22. Piedmont Lithium has a fifty-two week low of $9.37 and a fifty-two week high of $63.17.

Piedmont Lithium (NASDAQ:PLLGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The mineral exploration company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The business had revenue of $13.40 million for the quarter, compared to analyst estimates of $13.77 million. As a group, equities analysts predict that Piedmont Lithium will post 0.02 EPS for the current year.

Piedmont Lithium Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

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