Larson Financial Group LLC Has $223,000 Position in Piedmont Lithium Inc. (NASDAQ:PLL)

Larson Financial Group LLC lifted its stake in Piedmont Lithium Inc. (NASDAQ:PLL) by 53.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,943 shares of the mineral exploration company’s stock after purchasing an additional 8,643 shares during the period. Larson Financial Group LLC’s holdings in Piedmont Lithium were worth $223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. boosted its stake in Piedmont Lithium by 20.0% in the second quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,994,000 after acquiring an additional 50,000 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Piedmont Lithium in the second quarter valued at approximately $723,000. Millennium Management LLC boosted its stake in Piedmont Lithium by 12.0% in the second quarter. Millennium Management LLC now owns 381,248 shares of the mineral exploration company’s stock valued at $3,805,000 after acquiring an additional 40,826 shares during the last quarter. Boston Partners boosted its stake in Piedmont Lithium by 154.5% in the first quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after acquiring an additional 103,273 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Piedmont Lithium in the second quarter valued at approximately $874,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Trading Up 0.5 %

Shares of NASDAQ:PLL opened at $12.35 on Thursday. Piedmont Lithium Inc. has a 12 month low of $6.57 and a 12 month high of $31.82. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $11.64 and its 200 day simple moving average is $10.90. The firm has a market cap of $240.08 million, a price-to-earnings ratio of -3.02 and a beta of 0.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PLL shares. Macquarie raised shares of Piedmont Lithium from an “underperform” rating to a “neutral” rating and set a $13.50 price objective on the stock in a research note on Thursday, November 21st. B. Riley reduced their price target on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Roth Capital cut shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm cut shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $13.00 in a research report on Wednesday, November 20th. Finally, BMO Capital Markets lifted their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

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.