Analysts Set Piedmont Lithium Inc. (NASDAQ:PLL) Target Price at $65.67

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $65.67.

Several analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Piedmont Lithium in a report on Friday, February 16th. They issued a “market perform” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Piedmont Lithium from $25.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. TD Cowen downgraded Piedmont Lithium from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $55.00 to $20.00 in a report on Monday, January 29th. DA Davidson restated a “buy” rating and set a $60.00 target price on shares of Piedmont Lithium in a report on Tuesday, April 16th. Finally, BTIG Research downgraded shares of Piedmont Lithium from a “buy” rating to a “neutral” rating in a research report on Friday, February 23rd.

Institutional Trading of Piedmont Lithium

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new stake in shares of Piedmont Lithium during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC purchased a new stake in Piedmont Lithium during the 4th quarter valued at $34,000. FNY Investment Advisers LLC bought a new stake in shares of Piedmont Lithium in the 4th quarter worth $62,000. PNC Financial Services Group Inc. raised its stake in shares of Piedmont Lithium by 143.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock worth $73,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Piedmont Lithium by 48.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,210 shares of the mineral exploration company’s stock valued at $127,000 after purchasing an additional 1,044 shares in the last quarter. 52.23% of the stock is currently owned by institutional investors.

Piedmont Lithium Stock Down 1.0 %

Shares of Piedmont Lithium stock opened at $13.33 on Wednesday. The company has a market cap of $258.07 million, a PE ratio of -11.59 and a beta of 0.77. The business has a 50 day moving average of $13.03 and a 200 day moving average of $19.68. Piedmont Lithium has a 52 week low of $10.82 and a 52 week high of $65.72.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data on Thursday, February 22nd. The mineral exploration company reported ($1.23) EPS for the quarter, missing the consensus estimate of $0.38 by ($1.61). The business had revenue of ($7.31) million for the quarter, compared to analyst estimates of $32.76 million. On average, research analysts anticipate that Piedmont Lithium will post -0.43 earnings per share for the current year.

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.