Fintel reports that on June 5, 2023, DA Davidson maintained coverage of Piedmont Lithium (NASDAQ:PLL) with a Buy recommendation.
Analyst Price Forecast Suggests 89.35% Upside
As of June 2, 2023, the average one-year price target for Piedmont Lithium is 117.30. The forecasts range from a low of 85.85 to a high of $199.50. The average price target represents an increase of 89.35% from its latest reported closing price of 61.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Piedmont Lithium is 129MM. The projected annual non-GAAP EPS is 3.44.
What is the Fund Sentiment?
There are 319 funds or institutions reporting positions in Piedmont Lithium. This is an increase of 16 owner(s) or 5.28% in the last quarter. Average portfolio weight of all funds dedicated to PLL is 0.12%, an increase of 15.84%. Total shares owned by institutions increased in the last three months by 9.76% to 10,890K shares. 
The put/call ratio of PLL is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
XME - SPDR(R) S&P(R) Metals & Mining ETF holds 1,281K shares representing 0.07% ownership of the company. In it's prior filing, the firm reported owning 1,073K shares, representing an increase of 16.27%. The firm increased its portfolio allocation in PLL by 39.93% over the last quarter.
Van Eck Associates holds 657K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 644K shares, representing an increase of 1.96%. The firm increased its portfolio allocation in PLL by 22.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 526K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 513K shares, representing an increase of 2.49%. The firm increased its portfolio allocation in PLL by 29.17% over the last quarter.
Invesco holds 483K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 345K shares, representing an increase of 28.63%. The firm decreased its portfolio allocation in PLL by 83.15% over the last quarter.
Luxor Capital Group holds 417K shares representing 0.02% ownership of the company.
Piedmont Lithium Background Information
(This description is provided by the company.)
Piedmont Lithium, Inc. is engaged in building a multi-asset, integrated lithium business which provides lithium hydroxide, a critical material, to the electric vehicle and battery manufacturing supply chains in the United States to support the creation of a clean energy economy in North America.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
