Analysts Set Piedmont Lithium Inc. (NASDAQ:PLL) PT at $127.50

Shares of Piedmont Lithium Inc. (NASDAQ:PLL – Get Rating) have been given a consensus rating of “Buy” by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $140.00.

A number of research firms have recently weighed in on PLL. Roth Mkm upped their price target on shares of Piedmont Lithium from $150.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Macquarie began coverage on shares of Piedmont Lithium in a research note on Wednesday, March 8th. They set an “outperform” rating and a $140.00 price target on the stock.

Piedmont Lithium Stock Performance

Shares of Piedmont Lithium stock opened at $54.39 on Friday. Piedmont Lithium has a one year low of $32.08 and a one year high of $76.78. The firm has a fifty day moving average of $55.34 and a two-hundred day moving average of $57.42.

Insider Activity at Piedmont Lithium

In other Piedmont Lithium news, CFO Michael D. White sold 1,316 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $58.99, for a total value of $77,630.84. Following the completion of the sale, the chief financial officer now owns 14,809 shares of the company’s stock, valued at $873,582.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael A. Bless acquired 1,750 shares of the stock in a transaction on Wednesday, March 8th. The stock was bought at an average price of $60.14 per share, with a total value of $105,245.00. Following the completion of the transaction, the director now directly owns 1,750 shares of the company’s stock, valued at $105,245. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael D. White sold 1,316 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $58.99, for a total transaction of $77,630.84. Following the completion of the sale, the chief financial officer now directly owns 14,809 shares of the company’s stock, valued at approximately $873,582.91. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by insiders.

Institutional Trading of Piedmont Lithium

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in Piedmont Lithium by 150.0% in the first quarter. Nisa Investment Advisors LLC now owns 500 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Ahrens Investment Partners LLC acquired a new position in Piedmont Lithium in the first quarter worth $35,000. Geneos Wealth Management Inc. acquired a new position in Piedmont Lithium in the first quarter worth $36,000. Money Concepts Capital Corp acquired a new position in Piedmont Lithium in the fourth quarter worth $37,000. Finally, Point72 Middle East FZE acquired a new position in Piedmont Lithium in the fourth quarter worth $38,000. Institutional investors and hedge funds own 48.23% of the company’s stock.

Piedmont Lithium Company Profile

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Piedmont Lithium, Inc is an exploration stage company, which engages in the exploration and development of mineral properties. The firm focuses on developing and manufacturing battery quality lithium hydroxide for the electric vehicle industry. Its projects include Carolina Lithium, Quebec, and Ghana.