Barclays PLC Acquires 17,569 Shares of Piedmont Lithium Inc. (NASDAQ:PLL)

Barclays PLC boosted its stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 104.9% in the third quarter, HoldingsChannel reports. The firm owned 34,322 shares of the mineral exploration company’s stock after purchasing an additional 17,569 shares during the quarter. Barclays PLC’s holdings in Piedmont Lithium were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PLL. Bank of New York Mellon Corp boosted its holdings in shares of Piedmont Lithium by 36.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 82,797 shares of the mineral exploration company’s stock worth $826,000 after buying an additional 22,013 shares during the period. Marshall Wace LLP bought a new stake in shares of Piedmont Lithium during the second quarter worth approximately $874,000. Point72 DIFC Ltd acquired a new position in shares of Piedmont Lithium in the second quarter valued at approximately $47,000. Cubist Systematic Strategies LLC bought a new position in shares of Piedmont Lithium during the second quarter worth approximately $723,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in Piedmont Lithium during the 2nd quarter worth approximately $1,484,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of Piedmont Lithium stock in a transaction dated 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 owns 170,616 shares in the company, valued at $2,100,282.96. The trade was a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.81% of the company’s stock.

Piedmont Lithium Stock Performance

Shares of Piedmont Lithium stock opened at $9.07 on Monday. The company has a 50 day moving average of $10.65 and a 200-day moving average of $10.28. The company has a market cap of $176.32 million, a PE ratio of -2.22 and a beta of 0.80. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium Inc. has a 1-year low of $6.57 and a 1-year high of $19.70.

Analyst Upgrades and Downgrades

PLL has been the topic of a number of research reports. BMO Capital Markets upped their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a report on Friday, November 29th. Macquarie raised shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Roth Capital cut shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Roth Mkm lowered shares of 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. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Piedmont Lithium currently has a consensus rating of “Hold” and an average price target of $21.21.

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.