Dimensional Fund Advisors LP Has $678,000 Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Dimensional Fund Advisors LP cut its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 47.0% during the second quarter, HoldingsChannel.com reports. The firm owned 67,904 shares of the mineral exploration company’s stock after selling 60,181 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Piedmont Lithium were worth $678,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Piedmont Lithium during the 4th quarter valued at about $98,000. Boston Partners increased its stake in shares of Piedmont Lithium by 154.5% in the 1st quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after acquiring an additional 103,273 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Piedmont Lithium by 49.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,054 shares of the mineral exploration company’s stock valued at $254,000 after acquiring an additional 6,328 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Piedmont Lithium in the 2nd quarter valued at about $1,472,000. Finally, Virtu Financial LLC bought a new stake in shares of Piedmont Lithium in the 4th quarter valued at about $217,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PLL shares. B. Riley lowered their price target 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. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price target (down from $61.00) on shares of Piedmont Lithium in a research note on Friday, August 9th. BMO Capital Markets lowered their price target on Piedmont Lithium from $15.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, September 6th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $9.30 price target on shares of Piedmont Lithium in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Piedmont Lithium has a consensus rating of “Hold” and an average target price of $24.69.

Piedmont Lithium Price Performance

NASDAQ PLL opened at $14.46 on Monday. The business has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $11.00. Piedmont Lithium Inc. has a 52-week low of $6.57 and a 52-week high of $36.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a market cap of $280.96 million, a price-to-earnings ratio of -7.09 and a beta of 0.81.

Piedmont Lithium (NASDAQ:PLL) last posted its earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.53). The company had revenue of $13.23 million during the quarter, compared to analyst estimates of $14.89 million. During the same period last year, the firm posted ($0.55) earnings per share. Analysts anticipate that Piedmont Lithium Inc. will post -2.26 earnings per share for the current fiscal year.

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.