Brokerages Set Piedmont Lithium Inc. (NASDAQ:PLL) Target Price at $21.21

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $21.21.

Several research firms have recently weighed in on PLL. Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $13.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. BMO Capital Markets upped their price objective on shares of Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a research report on Friday, November 29th. Finally, Roth Capital downgraded Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

Piedmont Lithium Stock Performance

PLL opened at $9.10 on Monday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $11.17 and its two-hundred day moving average price is $10.31. The firm has a market capitalization of $176.89 million, a P/E ratio of -2.22 and a beta of 0.80. Piedmont Lithium has a 12-month low of $6.57 and a 12-month high of $25.48.

Insider Buying and Selling

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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Piedmont Lithium

A number of large investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Piedmont Lithium by 38.7% in the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after acquiring an additional 936 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Piedmont Lithium by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock valued at $34,000 after purchasing an additional 1,550 shares in the last quarter. National Bank of Canada FI raised its position in 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 worth $25,000 after purchasing an additional 2,724 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in Piedmont Lithium by 2.9% during 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 buying an additional 4,345 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Piedmont Lithium in the 2nd quarter valued at $47,000. 52.23% of the stock is currently owned by institutional investors.

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.