Piedmont Lithium Inc. (NASDAQ:PLL) Receives $21.21 Average PT from Analysts

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $21.21.

Several research firms have weighed in on PLL. 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 lowered Piedmont Lithium from a “buy” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $13.00 in a research report on Wednesday, November 20th. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 target price (down previously from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st. Finally, BMO Capital Markets increased their price target on shares of Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, November 29th.

Insider Activity at Piedmont Lithium

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

Hedge Funds Weigh In On Piedmont Lithium

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of Piedmont Lithium by 2,095.4% during the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock worth $25,000 after acquiring an additional 2,724 shares in the last quarter. FMR LLC lifted its holdings in Piedmont Lithium by 38.7% in the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 936 shares during the last quarter. GAMMA Investing LLC boosted its position in Piedmont Lithium by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock worth $34,000 after purchasing an additional 1,550 shares during the period. Point72 DIFC Ltd acquired a new position in Piedmont Lithium during the second quarter valued at approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Piedmont Lithium in the second quarter valued at approximately $58,000. 52.23% of the stock is owned by institutional investors and hedge funds.

Piedmont Lithium Stock Performance

Piedmont Lithium stock opened at $9.10 on Monday. Piedmont Lithium has a fifty-two week low of $6.57 and a fifty-two week high of $25.48. The firm’s 50 day simple moving average is $11.17 and its 200-day simple moving average is $10.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market cap of $176.89 million, a P/E ratio of -2.22 and a beta of 0.80.

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.