SG Americas Securities LLC Buys Shares of 14,444 Piedmont Lithium Inc. (NASDAQ:PLL)

SG Americas Securities LLC purchased a new position in shares of Piedmont Lithium Inc. (NASDAQ:PLL) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 14,444 shares of the mineral exploration company’s stock, valued at approximately $144,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Piedmont Lithium in the fourth quarter worth about $34,000. Principal Financial Group Inc. raised its stake in Piedmont Lithium by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 361,625 shares of the mineral exploration company’s stock worth $10,209,000 after acquiring an additional 1,232 shares during the period. Norges Bank bought a new stake in Piedmont Lithium during the 4th quarter worth approximately $7,148,000. Quest Partners LLC purchased a new position in Piedmont Lithium during the fourth quarter valued at approximately $308,000. Finally, Scarborough Advisors LLC bought a new position in shares of Piedmont Lithium in the fourth quarter worth approximately $98,000. Institutional investors own 52.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PLL. Macquarie restated a “neutral” rating and set a $9.30 price objective on shares of Piedmont Lithium in a research report on Monday, August 12th. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price objective (down previously from $61.00) on shares of Piedmont Lithium in a research note on Friday, August 9th. B. Riley cut their target price on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets lowered their price target on Piedmont Lithium from $28.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Piedmont Lithium has a consensus rating of “Hold” and an average target price of $25.61.

Piedmont Lithium Trading Up 5.6 %

Shares of PLL stock opened at $9.19 on Monday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $178.00 million, a price-to-earnings ratio of -4.84 and a beta of 0.84. Piedmont Lithium Inc. has a 12-month low of $6.93 and a 12-month high of $46.33. The stock’s 50-day moving average price is $9.85 and its 200-day moving average price is $12.11.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.53). The business had revenue of $13.23 million during the quarter, compared to analyst estimates of $14.89 million. During the same period in the previous year, the company earned ($0.55) EPS. Equities research analysts predict that Piedmont Lithium Inc. will post -2.26 EPS for the current fiscal year.

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.