Quest Partners LLC Boosts Stake in Piedmont Lithium Inc. (NASDAQ:PLL)

Quest Partners LLC raised its position in Piedmont Lithium Inc. (NASDAQ:PLL) by 708.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,032 shares of the mineral exploration company’s stock after purchasing an additional 27,194 shares during the quarter. Quest Partners LLC owned 0.16% of Piedmont Lithium worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Piedmont Lithium during the second quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Piedmont Lithium in the 2nd quarter valued at $58,000. State Board of Administration of Florida Retirement System purchased a new position in Piedmont Lithium in the first quarter valued at about $71,000. SG Americas Securities LLC acquired a new position in shares of Piedmont Lithium during the second quarter worth about $144,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Piedmont Lithium in the second quarter worth about $163,000. 52.23% of the stock is owned by institutional investors and hedge funds.

Piedmont Lithium Stock Performance

PLL stock opened at $12.29 on Wednesday. The stock’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $10.90. Piedmont Lithium Inc. has a 12-month low of $6.57 and a 12-month high of $31.82. The firm has a market cap of $238.92 million, a P/E ratio of -3.00 and a beta of 0.74. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

Several research firms recently commented on PLL. BMO Capital Markets boosted their price target on Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $13.00 in a report on Wednesday, November 20th. Macquarie raised shares of Piedmont Lithium from an “underperform” rating to a “neutral” rating and set a $13.50 price target on the stock in a research note on Thursday, November 21st. Roth Capital downgraded Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.50.

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.