JPMorgan Chase & Co. Raises Stake in Piedmont Lithium Inc. (NASDAQ:PLL)

JPMorgan Chase & Co. lifted its stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,938 shares of the mineral exploration company’s stock after acquiring an additional 1,878 shares during the period. JPMorgan Chase & Co. owned 0.17% of Piedmont Lithium worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. acquired a new position in Piedmont Lithium in the 4th quarter valued at about $109,000. Raymond James Financial Inc. purchased a new position in Piedmont Lithium in the fourth quarter worth approximately $98,000. Bank of New York Mellon Corp increased its stake in Piedmont Lithium by 2.7% during 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. Atria Wealth Solutions Inc. purchased a new stake in Piedmont Lithium in the fourth quarter valued at $91,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 1,550 shares during the last quarter. Institutional investors and hedge funds own 52.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price objective on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating for the company 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.75.

Piedmont Lithium Trading Down 1.6 %

PLL opened at $7.50 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.23 and a debt-to-equity ratio of 0.01. The firm has a market cap of $164.58 million, a P/E ratio of -2.26 and a beta of 0.55. Piedmont Lithium Inc. has a 52 week low of $5.15 and a 52 week high of $16.59. The business has a fifty day simple moving average of $6.86 and a 200-day simple moving average of $9.14.

Piedmont Lithium (NASDAQ:PLL) last released its earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share 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%. On average, equities analysts expect that Piedmont Lithium Inc. will post -0.91 earnings per share for the current 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.