Geode Capital Management LLC Grows Position in Piedmont Lithium Inc. (NASDAQ:PLL)

Geode Capital Management LLC grew its stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 413,366 shares of the mineral exploration company’s stock after buying an additional 4,505 shares during the period. Geode Capital Management LLC owned 2.13% of Piedmont Lithium worth $3,614,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLL. JPMorgan Chase & Co. boosted its position in shares of Piedmont Lithium by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 32,938 shares of the mineral exploration company’s stock worth $288,000 after acquiring an additional 1,878 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Piedmont Lithium in the fourth quarter worth approximately $109,000. Raymond James Financial Inc. acquired a new stake in shares of Piedmont Lithium in the fourth quarter worth approximately $98,000. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 1,855 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Piedmont Lithium in the fourth quarter worth approximately $91,000. Hedge funds and other institutional investors own 52.23% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their target price on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Piedmont Lithium currently has a consensus rating of “Hold” and a consensus target price of $12.75.

Piedmont Lithium Trading Down 4.9 %

Shares of PLL stock opened at $8.47 on Monday. The stock has a market cap of $185.87 million, a price-to-earnings ratio of -2.55 and a beta of 0.55. The company has a quick ratio of 1.99, a current ratio of 2.23 and a debt-to-equity ratio of 0.01. Piedmont Lithium Inc. has a fifty-two week low of $5.15 and a fifty-two week high of $16.59. The firm’s 50 day moving average price is $6.89 and its two-hundred day moving average price is $9.29.

Piedmont Lithium (NASDAQ:PLL) last announced its quarterly earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The business 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%. On average, analysts anticipate that Piedmont Lithium Inc. will post -0.91 EPS for the current year.

Piedmont Lithium 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.