Piedmont Lithium Inc. (NASDAQ:PLL) Receives Average Rating of “Hold” from Analysts

Piedmont Lithium Inc. (NASDAQ:PLL) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $21.21.

Several equities research analysts have commented on PLL shares. BMO Capital Markets upped 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. 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 research report on Monday, October 21st. Roth Mkm downgraded shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $13.00 in a report on Wednesday, November 20th. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Insider Activity

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the business’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 transaction, the chief executive officer now directly owns 170,616 shares in the company, valued at $2,100,282.96. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Piedmont Lithium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in shares of Piedmont Lithium by 2,095.4% in the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC increased its stake in Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after buying an additional 936 shares during the period. GAMMA Investing LLC grew its stake 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 worth $34,000 after purchasing an additional 1,550 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Piedmont Lithium in the 2nd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Piedmont Lithium in the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Stock Up 7.3 %

Shares of PLL opened at $9.79 on Monday. The company has a market capitalization of $190.30 million, a price-to-earnings ratio of -2.39 and a beta of 0.72. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $26.50. The stock’s 50-day moving average price is $11.40 and its 200-day moving average price is $10.33. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01.

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.