Piedmont Lithium (NASDAQ:PLL) Given New $20.00 Price Target at B. Riley

Piedmont Lithium (NASDAQ:PLL) had its price target trimmed by B. Riley from $26.00 to $20.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the mineral exploration company’s stock.

Several other equities analysts have also commented on PLL. DA Davidson restated a buy rating and issued a $60.00 price objective on shares of Piedmont Lithium in a report on Tuesday, April 16th. BMO Capital Markets decreased 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 report on Friday, July 26th. Roth Mkm reiterated a buy rating and set a $40.00 target price (down from $61.00) on shares of Piedmont Lithium in a report on Friday, August 9th. Finally, Macquarie reiterated a neutral rating and set a $9.30 target price on shares of Piedmont Lithium in a report on Monday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Piedmont Lithium currently has an average rating of Hold and a consensus price target of $25.61.

Piedmont Lithium Stock Down 3.8 %

Shares of NASDAQ PLL opened at $7.40 on Monday. Piedmont Lithium has a 12-month low of $6.93 and a 12-month high of $46.66. The stock has a market cap of $143.34 million, a PE ratio of -4.05 and a beta of 0.84. The company has a current ratio of 2.32, a quick ratio of 4.57 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $10.24 and a 200 day moving average of $12.40.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data on Thursday, August 8th. The mineral exploration company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.53). The firm had revenue of $13.23 million for the quarter, compared to analysts’ expectations of $14.89 million. During the same quarter in the prior year, the company posted ($0.55) EPS. As a group, sell-side analysts predict that Piedmont Lithium will post -1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Piedmont Lithium

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Piedmont Lithium in the 1st quarter valued at $25,000. GAMMA Investing LLC grew its position in shares of Piedmont Lithium by 66.6% in the 1st quarter. GAMMA Investing LLC now owns 1,992 shares of the mineral exploration company’s stock valued at $27,000 after buying an additional 796 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Piedmont Lithium in the 4th quarter valued at $28,000. Point72 DIFC Ltd purchased a new position in shares of Piedmont Lithium in the 2nd quarter valued at $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Piedmont Lithium in the 2nd quarter valued at $58,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

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.