Piedmont Lithium Inc. – Sponsored ADR (NASDAQ:PLL) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Piedmont Lithium Inc. – Sponsored ADR (NASDAQ:PLL) by 16.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,739 shares of the mineral exploration company’s stock after acquiring an additional 1,782 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Piedmont Lithium worth $111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in Piedmont Lithium during the 4th quarter worth approximately $33,000. Cubist Systematic Strategies LLC purchased a new position in Piedmont Lithium during the 4th quarter worth approximately $41,000. Deutsche Bank AG grew its stake in shares of Piedmont Lithium by 31.9% in the 4th quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company’s stock valued at $85,000 after purchasing an additional 2,348 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Piedmont Lithium in the fourth quarter valued at approximately $91,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Piedmont Lithium during the fourth quarter worth approximately $98,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Stock Performance

Piedmont Lithium stock opened at $6.03 on Wednesday. The stock’s 50 day moving average price is $6.74 and its 200 day moving average price is $7.82. The firm has a market capitalization of $132.36 million, a PE ratio of -2.15 and a beta of 0.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.15 and a current ratio of 2.15. Piedmont Lithium Inc. – Sponsored ADR has a one year low of $5.15 and a one year high of $15.44.

Piedmont Lithium (NASDAQ:PLL) last posted its quarterly earnings data on Wednesday, May 7th. The mineral exploration company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.21). Piedmont Lithium had a negative return on equity of 19.46% and a negative net margin of 53.33%. The business had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $36.34 million. As a group, sell-side analysts expect that Piedmont Lithium Inc. – Sponsored ADR will post -0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price target 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 investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.75.

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.