Piedmont Lithium (NASDAQ:PLL) Rating Reiterated by JPMorgan Chase & Co.

Piedmont Lithium (NASDAQ:PLL)‘s stock had its “underweight” rating restated by analysts at JPMorgan Chase & Co. in a research report issued on Monday, Benzinga reports. They presently have a $8.00 price target on the mineral exploration company’s stock, down from their prior price target of $9.00. JPMorgan Chase & Co.‘s price target points to a potential downside of 31.03% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on PLL. Roth Mkm reissued a “buy” rating and issued a $40.00 price objective (down from $61.00) on shares of Piedmont Lithium in a research report on Friday, August 9th. B. Riley lowered their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BMO Capital Markets cut their target price on Piedmont Lithium from $15.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, September 6th. Finally, Macquarie downgraded shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price target for the company. in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Piedmont Lithium presently has an average rating of “Hold” and an average price target of $23.47.

Piedmont Lithium Trading Up 0.4 %

Shares of PLL opened at $11.60 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.32 and a quick ratio of 2.32. Piedmont Lithium has a 12 month low of $6.57 and a 12 month high of $33.19. The stock has a market cap of $225.39 million, a PE ratio of -5.69 and a beta of 0.81. The stock’s 50-day moving average is $9.15 and its two-hundred day moving average is $10.99.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings data on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.53). The business had revenue of $13.23 million for the quarter, compared to the consensus estimate of $14.89 million. During the same period last year, the business earned ($0.55) earnings per share. Equities analysts forecast that Piedmont Lithium will post -2.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piedmont Lithium

Several large investors have recently added to or reduced their stakes in PLL. Headlands Technologies LLC acquired a new position in Piedmont Lithium in the first quarter valued at approximately $25,000. GAMMA Investing LLC lifted its holdings 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 worth $27,000 after purchasing an additional 796 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Piedmont Lithium by 143.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock valued at $73,000 after purchasing an additional 1,521 shares during the period. Point72 DIFC Ltd acquired a new position in Piedmont Lithium during the 2nd quarter valued at approximately $47,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Piedmont Lithium in the first quarter worth $71,000. 52.23% of the stock is currently owned by institutional investors.

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.