Piedmont Lithium Inc. (NASDAQ:PLL) Given Average Recommendation of “Hold” by Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $21.21.

Several research firms have recently commented on PLL. BMO Capital Markets boosted 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. Macquarie upgraded 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 target for the company from $32.00 to $13.00 in a report on Wednesday, November 20th. Roth Capital downgraded Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, 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.

Insider Activity at Piedmont Lithium

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

Institutional Investors Weigh In On Piedmont Lithium

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Piedmont Lithium by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock valued at $34,000 after buying an additional 1,550 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Piedmont Lithium by 23.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company’s stock worth $277,000 after acquiring an additional 5,831 shares during the last quarter. Barclays PLC boosted its position in Piedmont Lithium by 104.9% in the third quarter. Barclays PLC now owns 34,322 shares of the mineral exploration company’s stock valued at $307,000 after buying an additional 17,569 shares during the last quarter. Virtue Capital Management LLC acquired a new position in Piedmont Lithium in the 3rd quarter worth approximately $223,000. Finally, National Bank of Canada FI raised its position in 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 buying an additional 2,724 shares during the last quarter. 52.23% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Lithium Price Performance

NASDAQ:PLL opened at $9.79 on Monday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $26.50. The business’s 50-day simple moving average is $11.40 and its two-hundred day simple moving average is $10.33. The stock has a market cap of $190.30 million, a PE ratio of -2.39 and a beta of 0.72.

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.