Larson Financial Group LLC Has $188,000 Stock Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Larson Financial Group LLC cut its stake in Piedmont Lithium Inc. (NASDAQ:PLL) by 13.8% during the fourth quarter, HoldingsChannel reports. The fund owned 21,497 shares of the mineral exploration company’s stock after selling 3,446 shares during the quarter. Larson Financial Group LLC’s holdings in Piedmont Lithium were worth $188,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in Piedmont Lithium by 38.7% in the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 936 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Piedmont Lithium by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock worth $34,000 after purchasing an additional 1,550 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Piedmont Lithium by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company’s stock worth $613,000 after purchasing an additional 1,855 shares in the last quarter. National Bank of Canada FI boosted its holdings in Piedmont Lithium by 2,095.4% in the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock worth $25,000 after purchasing an additional 2,724 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its holdings in Piedmont Lithium by 2.9% in the third quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after purchasing an additional 4,345 shares in the last quarter. 52.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PLL shares. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Roth Capital cut shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Roth Mkm decreased their price target on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, BMO Capital Markets upped their price target on shares of Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.63.

Piedmont Lithium Stock Up 1.2 %

PLL stock opened at $7.43 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.23 and a quick ratio of 1.99. Piedmont Lithium Inc. has a 52-week low of $6.26 and a 52-week high of $17.66. The company has a 50-day moving average of $8.36 and a two-hundred day moving average of $9.83. The stock has a market capitalization of $163.04 million, a price-to-earnings ratio of -2.24 and a beta of 0.76.

Piedmont Lithium (NASDAQ:PLL) last announced its quarterly earnings data on Thursday, February 20th. The mineral exploration company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The company had revenue of $45.59 million for the quarter, compared to analyst estimates of $52.60 million. Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. As a group, equities research analysts anticipate that Piedmont Lithium Inc. will post -0.91 EPS 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.