Piedmont Lithium Inc. (NASDAQ:PLL) Stake Increased by Barclays PLC

Barclays PLC raised its stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 104.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,322 shares of the mineral exploration company’s stock after acquiring an additional 17,569 shares during the quarter. Barclays PLC owned approximately 0.18% of Piedmont Lithium worth $307,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PLL. FMR LLC raised its stake in shares of Piedmont Lithium by 38.7% in the 3rd 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 in the last quarter. National Bank of Canada FI raised its stake in Piedmont Lithium by 2,095.4% during the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after buying an additional 2,724 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in Piedmont Lithium by 2.9% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after buying an additional 4,345 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Piedmont Lithium in the 2nd quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Piedmont Lithium in the 2nd quarter valued at approximately $58,000. 52.23% of the stock is owned by institutional investors and hedge funds.

Piedmont Lithium Stock Up 7.3 %

Shares of Piedmont Lithium stock opened at $9.79 on Friday. Piedmont Lithium Inc. has a 1-year low of $6.57 and a 1-year high of $26.50. The company has a market capitalization of $190.30 million, a P/E ratio of -2.39 and a beta of 0.72. The business’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $10.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.99 and a quick ratio of 1.99.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Keith D. Phillips sold 41,867 shares of the business’s 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 sale, the chief executive officer now owns 170,616 shares of the company’s stock, valued at $2,100,282.96. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.81% of the company’s stock.

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.