Piedmont Lithium (NASDAQ:PLL) Earns Buy Rating from Roth Mkm

Piedmont Lithium (NASDAQ:PLL)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a report released on Wednesday, Benzinga reports. They presently have a $31.00 price target on the mineral exploration company’s stock, down from their previous price target of $40.00. Roth Mkm’s price objective suggests a potential upside of 136.64% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st. B. Riley cut their target price on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Macquarie cut shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price for the company. in a research note on Wednesday, October 16th. Finally, BMO Capital Markets lifted their target price on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Piedmont Lithium presently has a consensus rating of “Hold” and a consensus price target of $22.26.

Piedmont Lithium Stock Down 1.5 %

NASDAQ PLL opened at $13.10 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a 50-day simple moving average of $9.94 and a 200 day simple moving average of $10.95. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $31.82. The stock has a market cap of $254.52 million, a PE ratio of -6.42 and a beta of 0.81.

Piedmont Lithium (NASDAQ:PLL) last announced its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.53). The business had revenue of $13.23 million for the quarter, compared to analysts’ expectations of $14.89 million. During the same period last year, the company posted ($0.55) EPS. On average, research analysts forecast that Piedmont Lithium will post -2.58 EPS for the current year.

Institutional Trading of Piedmont Lithium

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in shares of Piedmont Lithium by 12.0% in the 2nd quarter. Millennium Management LLC now owns 381,248 shares of the mineral exploration company’s stock valued at $3,805,000 after buying an additional 40,826 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Piedmont Lithium by 20.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,994,000 after buying an additional 50,000 shares during the period. Boston Partners grew its holdings in shares of Piedmont Lithium by 154.5% in the 1st quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after buying an additional 103,273 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Piedmont Lithium in the 2nd quarter valued at $1,484,000. Finally, Raymond James & Associates bought a new stake in Piedmont Lithium in the 2nd quarter valued at $1,472,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

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.