Piedmont Lithium Inc. (NASDAQ:PLL) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,497 shares of the mineral exploration company’s stock after selling 3,446 shares during the period. Larson Financial Group LLC owned approximately 0.11% of Piedmont Lithium worth $188,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Piedmont Lithium by 15.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock worth $1,383,000 after purchasing an additional 20,481 shares during the period. HITE Hedge Asset Management LLC lifted its position 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 during the period. Bank of New York Mellon Corp lifted its position 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 during the period. Barclays PLC lifted its position in Piedmont Lithium by 104.9% in the third quarter. Barclays PLC now owns 34,322 shares of the mineral exploration company’s stock worth $307,000 after purchasing an additional 17,569 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Piedmont Lithium by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company’s stock worth $277,000 after purchasing an additional 5,831 shares during the period. 52.23% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Lithium Price Performance

NASDAQ PLL opened at $7.43 on Wednesday. The business’s fifty day moving average is $8.36 and its two-hundred day moving average is $9.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 2.23. Piedmont Lithium Inc. has a 1 year low of $6.26 and a 1 year high of $17.66. The stock has a market capitalization of $163.04 million, a P/E ratio of -2.24 and a beta of 0.76.

Piedmont Lithium (NASDAQ:PLL) last announced its earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.12). Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. The firm had revenue of $45.59 million for the quarter, compared to analyst estimates of $52.60 million. On average, research analysts forecast that Piedmont Lithium Inc. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.