Piedmont Lithium Inc. (NASDAQ:PLL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Piedmont Lithium Inc. (NASDAQ:PLL) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,881 shares of the mineral exploration company’s stock after buying an additional 20,481 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of Piedmont Lithium worth $1,383,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in Piedmont Lithium during the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Piedmont Lithium during the second quarter valued at about $58,000. SG Americas Securities LLC acquired a new stake in Piedmont Lithium in the second quarter worth about $144,000. Thomist Capital Management LP bought a new position in Piedmont Lithium in the 2nd quarter valued at about $171,000. Finally, Larson Financial Group LLC acquired a new position in Piedmont Lithium during the 2nd quarter valued at about $163,000. 52.23% of the stock is currently owned by institutional investors.

Piedmont Lithium Stock Performance

Shares of PLL opened at $10.59 on Tuesday. 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 firm has a market cap of $205.87 million, a price-to-earnings ratio of -2.59 and a beta of 0.72. Piedmont Lithium Inc. has a 12 month low of $6.57 and a 12 month high of $31.82. The company’s fifty day moving average is $12.39 and its 200-day moving average is $10.60.

Insider Transactions at Piedmont Lithium

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. Macquarie raised shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Roth Capital cut shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. BMO Capital Markets raised their target price on shares of 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 Mkm cut 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 report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Piedmont Lithium presently has an average rating of “Hold” and a consensus target price of $21.21.

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.