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

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have received an average rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.50.

A number of research analysts have recently commented on PLL shares. Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. B. Riley dropped their price objective on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Macquarie upgraded shares of Piedmont Lithium from an “underperform” rating to a “neutral” rating and set a $13.50 target price for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC bought a new position in shares of Piedmont Lithium during the second quarter worth $1,484,000. Raymond James & Associates acquired a new position in Piedmont Lithium in the second quarter valued at about $1,472,000. Boston Partners increased its holdings in shares of Piedmont Lithium by 154.5% in the first quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock worth $2,266,000 after acquiring an additional 103,273 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Piedmont Lithium during the second quarter worth about $874,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Piedmont Lithium during the 2nd quarter valued at about $723,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Trading Up 15.1 %

Piedmont Lithium stock opened at $12.05 on Friday. The business’s 50-day simple moving average is $11.30 and its 200-day simple moving average is $10.94. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $31.82. The firm has a market capitalization of $234.25 million, a PE ratio of -2.95 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99.

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.