Barclays PLC Has $307,000 Stock Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Barclays PLC increased its stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 104.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,322 shares of the mineral exploration company’s stock after buying an additional 17,569 shares during the period. Barclays PLC owned 0.18% of Piedmont Lithium worth $307,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new stake in shares of Piedmont Lithium during the second quarter worth $1,484,000. Marshall Wace LLP bought a new stake in Piedmont Lithium during the 2nd quarter worth about $874,000. Cubist Systematic Strategies LLC acquired a new position in Piedmont Lithium during the 2nd quarter valued at about $723,000. Point72 Asset Management L.P. boosted its stake in shares of Piedmont Lithium by 20.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,994,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Piedmont Lithium by 12.0% during the 2nd quarter. Millennium Management LLC now owns 381,248 shares of the mineral exploration company’s stock worth $3,805,000 after buying an additional 40,826 shares during the period. Institutional investors own 52.23% of the company’s stock.

Insider Buying and Selling at Piedmont Lithium

In related news, CEO Keith D. Phillips sold 41,867 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.81% of the company’s stock.

Piedmont Lithium Stock Down 1.0 %

Shares of Piedmont Lithium stock opened at $9.07 on Monday. Piedmont Lithium Inc. has a 1 year low of $6.57 and a 1 year high of $19.70. 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 capitalization of $176.32 million, a P/E ratio of -2.22 and a beta of 0.80. The business has a 50-day moving average of $10.65 and a two-hundred day moving average of $10.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. restated an “underweight” rating and issued a $8.00 price objective (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. BMO Capital Markets increased their price target on Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a research note on Friday, November 29th. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Roth Mkm lowered Piedmont Lithium from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $13.00 in a research report on Wednesday, November 20th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company 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.