State Street Corp Sells 6,169 Shares of Piedmont Lithium Inc. (NASDAQ:PLL)

State Street Corp decreased its position in Piedmont Lithium Inc. (NASDAQ:PLL) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 363,808 shares of the mineral exploration company’s stock after selling 6,169 shares during the period. State Street Corp’s holdings in Piedmont Lithium were worth $3,249,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Piedmont Lithium by 38.7% during the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after purchasing an additional 936 shares during the period. HITE Hedge Asset Management LLC boosted its holdings in Piedmont Lithium by 2.9% in the third quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after acquiring an additional 4,345 shares in the last quarter. Point72 DIFC Ltd bought a new position in Piedmont Lithium in the second quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Piedmont Lithium in the second quarter valued at approximately $58,000. Finally, Larson Financial Group LLC increased its holdings in shares of Piedmont Lithium by 53.0% during the third quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company’s stock valued at $223,000 after acquiring an additional 8,643 shares in the last quarter. Institutional investors own 52.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Roth Mkm downgraded shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $13.00 in a research report on Wednesday, November 20th. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $8.00 price target (down previously from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a report on Friday, November 29th. Finally, Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Piedmont Lithium presently has an average rating of “Hold” and an average target price of $21.21.

Piedmont Lithium Stock Performance

Shares of PLL stock opened at $8.81 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a market cap of $171.25 million, a price-to-earnings ratio of -2.15 and a beta of 0.72. Piedmont Lithium Inc. has a 52 week low of $6.57 and a 52 week high of $29.50. The firm’s 50-day simple moving average is $11.66 and its two-hundred day simple moving average is $10.39.

Insider Buying and Selling

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total transaction of $515,382.77. Following the sale, the chief executive officer now directly owns 170,616 shares of the company’s stock, valued at $2,100,282.96. This represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.81% of the stock is currently owned by insiders.

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.