Piedmont Lithium Inc. (NASDAQ:PLL) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Piedmont Lithium Inc. (NASDAQ:PLL) by 65.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,907 shares of the mineral exploration company’s stock after buying an additional 1,550 shares during the period. GAMMA Investing LLC’s holdings in Piedmont Lithium were worth $34,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PLL. National Bank of Canada FI boosted its stake in Piedmont Lithium by 2,095.4% in 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 acquiring an additional 2,724 shares in the last quarter. FMR LLC lifted its holdings 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 during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Piedmont Lithium in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Piedmont Lithium in the 2nd quarter valued at about $58,000. Finally, Quantinno Capital Management LP purchased a new position in Piedmont Lithium during the 3rd quarter worth approximately $103,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Price Performance

PLL stock opened at $8.91 on Wednesday. The stock’s 50 day moving average price is $10.91 and its 200 day moving average price is $10.30. The firm has a market cap of $173.19 million, a P/E ratio of -2.18 and a beta of 0.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99. Piedmont Lithium Inc. has a 1 year low of $6.57 and a 1 year high of $22.54.

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 that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total value of $515,382.77. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PLL has been the topic of several research reports. JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 price objective (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets increased their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, November 29th. Macquarie upgraded Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $13.00 in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have given 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, the stock presently has an average rating of “Hold” and an average price target of $21.21.

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.