Piedmont Lithium Inc. (NASDAQ:PLL) Receives Consensus Recommendation of "Hold" from Brokerages

Piedmont Lithium Inc. (NASDAQ:PLL) has received an average "Hold" recommendation from eight brokerages. Five analysts suggest holding the stock while three recommend buying. Recent price targets were updated, with Macquarie maintaining a "neutral" rating and BMO Capital Markets lowering their target. Hedge funds have increased their stakes, holding 52.23% of shares. The stock has fluctuated in price, closing at $0.24, with the company's earnings report showing a miss on EPS expectations. Analysts forecast an EPS of -$2.26 for the current year.

Shares of Piedmont Lithium Inc. (NASDAQ:PLL - Get Free Report) have received an average recommendation of "Hold" from the eight brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.61.

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PLL has been the topic of a number of research reports. Macquarie restated a "neutral" rating and set a $9.30 target price on shares of Piedmont Lithium in a research report on Monday, August 12th. BMO Capital Markets lowered their price objective on shares of Piedmont Lithium from $28.00 to $15.00 and set a "market perform" rating on the stock in a research report on Friday, July 26th. B. Riley reduced their target price on shares of Piedmont Lithium from $26.00 to $20.00 and set a "buy" rating for the company in a report on Monday, August 12th. Finally, Roth Mkm reiterated a "buy" rating and set a $40.00 target price (down previously from $61.00) on shares of Piedmont Lithium in a research note on Friday, August 9th.

Check Out Our Latest Research Report on Piedmont Lithium

Hedge Funds Weigh In On Piedmont Lithium

Is It Time to Get into Piedmont Lithium Pre-Production?

Several hedge funds have recently bought and sold shares of PLL. ICA Group Wealth Management LLC purchased a new position in Piedmont Lithium in the 4th quarter valued at about $28,000. GAMMA Investing LLC purchased a new stake in shares of Piedmont Lithium in the fourth quarter valued at $34,000. Headlands Technologies LLC acquired a new position in Piedmont Lithium in the first quarter valued at $25,000. PNC Financial Services Group Inc. lifted its position in Piedmont Lithium by 143.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company's stock worth $73,000 after buying an additional 1,521 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Piedmont Lithium in the 4th quarter worth about $98,000. Hedge funds and other institutional investors own 52.23% of the company's stock.

Piedmont Lithium Price Performance

Shares of PLL opened at $8.24 on Tuesday. The firm has a fifty day moving average price of $9.63 and a 200 day moving average price of $11.87. The stock has a market cap of $159.60 million, a PE ratio of -4.34 and a beta of 0.84. Piedmont Lithium has a 1-year low of $6.93 and a 1-year high of $46.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.32 and a quick ratio of 2.32.

This Small Company Is Set To Drive Future Of Lithium Batteries

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last announced its earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.53). The company had revenue of $13.23 million during the quarter, compared to analysts' expectations of $14.89 million. During the same period in the previous year, the business posted ($0.55) earnings per share. As a group, sell-side analysts anticipate that Piedmont Lithium will post -2.26 EPS for the current year.

Piedmont Lithium Company Profile

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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.

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