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

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

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

Insider Activity

In other news, CEO Keith D. Phillips sold 41,867 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the sale, the chief executive officer now directly owns 170,616 shares of the company’s stock, valued at $2,100,282.96. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.81% of the company’s stock.

Hedge Funds Weigh In On Piedmont Lithium

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised 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 valued at $30,000 after purchasing an additional 936 shares during the period. GAMMA Investing LLC grew its holdings in shares of Piedmont Lithium by 65.8% during the fourth 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. National Bank of Canada FI raised its position in Piedmont Lithium by 2,095.4% during 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 buying an additional 2,724 shares during the period. HITE Hedge Asset Management LLC lifted its stake in Piedmont Lithium by 2.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Piedmont Lithium during the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 52.23% of the company’s stock.

Piedmont Lithium Price Performance

Shares of NASDAQ:PLL opened at $8.94 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $11.09 and its two-hundred day moving average is $10.30. The firm has a market capitalization of $173.78 million, a P/E ratio of -2.19 and a beta of 0.80. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $24.26.

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.