Piedmont Lithium Inc. (NASDAQ:PLL) Stake Lifted by Quest Partners LLC

Quest Partners LLC boosted its stake in Piedmont Lithium Inc. (NASDAQ:PLL) by 708.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,032 shares of the mineral exploration company’s stock after purchasing an additional 27,194 shares during the period. Quest Partners LLC’s holdings in Piedmont Lithium were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in PLL. Point72 DIFC Ltd acquired a new stake in shares of Piedmont Lithium in the 2nd quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Piedmont Lithium in the 2nd quarter worth about $58,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Piedmont Lithium in the first quarter valued at approximately $71,000. SG Americas Securities LLC bought a new stake in shares of Piedmont Lithium during the second quarter valued at approximately $144,000. Finally, Larson Financial Group LLC acquired a new position in shares of Piedmont Lithium during the second quarter worth approximately $163,000. 52.23% of the stock is currently owned by institutional investors.

Piedmont Lithium Price Performance

Shares of NASDAQ:PLL opened at $12.29 on Wednesday. The stock has a fifty day moving average of $11.54 and a 200-day moving average of $10.90. The company has a market capitalization of $238.92 million, a PE ratio of -3.00 and a beta of 0.74. Piedmont Lithium Inc. has a one year low of $6.57 and a one year high of $31.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99.

Analysts Set New Price Targets

Several analysts recently commented on PLL shares. Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Macquarie raised Piedmont Lithium from an “underperform” rating to a “neutral” rating and set a $13.50 price target on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. BMO Capital Markets raised 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, October 29th. Finally, Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $13.00 in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Piedmont Lithium currently has a consensus rating of “Hold” and an average price target of $20.50.

About Piedmont Lithium

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.