7,678 Shares in Piedmont Lithium Inc. (NASDAQ:PLL) Bought by Virtu Financial LLC

Virtu Financial LLC bought a new position in shares of Piedmont Lithium Inc. (NASDAQ:PLL) during the 4th quarter, HoldingsChannel.com reports. The fund bought 7,678 shares of the mineral exploration company’s stock, valued at approximately $217,000.

Several other institutional investors have also recently bought and sold shares of PLL. GAMMA Investing LLC purchased a new stake in shares of Piedmont Lithium in the fourth quarter valued at about $34,000. FNY Investment Advisers LLC bought a new position in Piedmont Lithium during the fourth quarter valued at about $62,000. Scarborough Advisors LLC bought a new position in Piedmont Lithium during the fourth quarter worth about $98,000. Janney Montgomery Scott LLC bought a new position in Piedmont Lithium during the third quarter worth about $251,000. Finally, Quest Partners LLC bought a new position in Piedmont Lithium during the fourth quarter worth about $308,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Stock Performance

PLL stock opened at $10.22 on Friday. The company has a market capitalization of $197.96 million, a PE ratio of -5.38 and a beta of 0.84. Piedmont Lithium Inc. has a one year low of $9.89 and a one year high of $63.17. The company’s 50 day moving average price is $12.96 and its two-hundred day moving average price is $16.38.

Piedmont Lithium (NASDAQ:PLL) last issued its earnings results on Thursday, May 9th. The mineral exploration company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The company had revenue of $13.40 million for the quarter, compared to the consensus estimate of $13.77 million. On average, research analysts predict that Piedmont Lithium Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on PLL. BMO Capital Markets raised their price objective on shares of Piedmont Lithium from $20.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. DA Davidson reaffirmed a “buy” rating and issued a $60.00 target price on shares of Piedmont Lithium in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

Piedmont Lithium 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.