LPL Financial LLC Sells 2,308 Shares of Piedmont Lithium Inc. (NASDAQ:PLL)

LPL Financial LLC reduced its stake in Piedmont Lithium Inc. (NASDAQ:PLL) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,918 shares of the mineral exploration company’s stock after selling 2,308 shares during the quarter. LPL Financial LLC owned 0.30% of Piedmont Lithium worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after acquiring an additional 936 shares in the last quarter. Barclays PLC grew 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 valued at $307,000 after purchasing an additional 17,569 shares in the last quarter. JPMorgan Chase & Co. grew 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 valued at $277,000 after purchasing an additional 5,831 shares in the last quarter. GAMMA Investing LLC increased its stake in Piedmont Lithium by 65.8% in the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock valued at $34,000 after buying an additional 1,550 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in Piedmont Lithium during the 4th quarter worth about $91,000. 52.23% of the stock is owned by institutional investors and hedge funds.

Piedmont Lithium Stock Performance

Shares of PLL stock opened at $8.91 on Friday. The company has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $9.38. Piedmont Lithium Inc. has a one year low of $5.15 and a one year high of $16.59. The stock has a market cap of $195.52 million, a P/E ratio of -2.68 and a beta of 0.55. 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 (NASDAQ:PLL) last issued 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). The firm had revenue of $45.59 million during 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 analysts predict that Piedmont Lithium Inc. will post -0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price objective on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Piedmont Lithium has a consensus rating of “Hold” and an average price target of $12.75.

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.